Piper Sandler Cuts RBB Bancorp (NASDAQ:RBB) Price Target to $20.00

RBB Bancorp (NASDAQ:RBB) had its price objective decreased by Piper Sandler from $23.00 to $20.00 in a research note released on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Separately, Stephens decreased their price target on RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday.

RBB Bancorp Price Performance

NASDAQ:RBB opened at $18.57 on Wednesday. The firm has a market capitalization of $328.56 million, a price-to-earnings ratio of 10.04 and a beta of 0.97. RBB Bancorp has a 1 year low of $16.54 and a 1 year high of $25.30. The business has a 50 day simple moving average of $20.92 and a 200-day simple moving average of $22.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 1.11.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings data on Monday, February 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). RBB Bancorp had a net margin of 14.50% and a return on equity of 5.94%. Equities analysts forecast that RBB Bancorp will post 1.59 EPS for the current year.

RBB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, January 31st. This represents a $0.64 annualized dividend and a yield of 3.45%. RBB Bancorp’s payout ratio is currently 43.84%.

Insiders Place Their Bets

In other news, CEO David Richard Morris sold 9,000 shares of RBB Bancorp stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $24.89, for a total value of $224,010.00. Following the transaction, the chief executive officer now directly owns 37,722 shares in the company, valued at approximately $938,900.58. This trade represents a 19.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gary Fan sold 12,000 shares of RBB Bancorp stock in a transaction on Friday, December 6th. The shares were sold at an average price of $23.45, for a total value of $281,400.00. The disclosure for this sale can be found here. 6.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in RBB Bancorp by 6.0% during the 4th quarter. Rhumbline Advisers now owns 26,554 shares of the company’s stock worth $544,000 after buying an additional 1,508 shares during the last quarter. Empowered Funds LLC grew its stake in RBB Bancorp by 5.0% during the 4th quarter. Empowered Funds LLC now owns 55,760 shares of the company’s stock worth $1,143,000 after buying an additional 2,662 shares during the last quarter. R Squared Ltd purchased a new position in RBB Bancorp during the 4th quarter worth $29,000. SG Americas Securities LLC grew its stake in RBB Bancorp by 20.0% during the 4th quarter. SG Americas Securities LLC now owns 6,992 shares of the company’s stock worth $143,000 after buying an additional 1,167 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in RBB Bancorp by 572.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,264 shares of the company’s stock worth $1,157,000 after buying an additional 42,786 shares during the last quarter. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

About RBB Bancorp

RBB Bancorp operates as the bank holding company for Royal Business Bank that provides various banking products and services to the Chinese-American, Korean-American, and other Asian-American communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.