Keefe, Bruyette & Woods Cuts RBB Bancorp (NASDAQ:RBB) Price Target to $22.00

RBB Bancorp (NASDAQ:RBB) had its target price reduced by Keefe, Bruyette & Woods from $26.00 to $22.00 in a research note released on Friday,Benzinga reports. They currently have a market perform rating on the stock.

Other analysts have also issued research reports about the stock. Stephens dropped their price target on shares of RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler lowered their target price on shares of RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th.

RBB Bancorp Trading Down 2.0 %

RBB opened at $18.57 on Friday. The firm has a market capitalization of $328.50 million, a P/E ratio of 12.72 and a beta of 0.97. The firm’s 50 day moving average is $20.81 and its 200-day moving average is $22.16. RBB Bancorp has a 52-week low of $16.54 and a 52-week high of $25.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66.

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 analysts’ consensus estimates of $0.37 by ($0.12). RBB Bancorp had a net margin of 11.49% and a return on equity of 5.21%. Analysts expect that RBB Bancorp will post 1.62 EPS for the current fiscal year.

RBB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, January 31st. RBB Bancorp’s dividend payout ratio (DPR) is presently 43.84%.

Insider Buying and Selling at RBB Bancorp

In other RBB Bancorp news, EVP Gary Fan sold 12,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $23.45, for a total transaction of $281,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Richard Morris sold 9,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $24.89, for a total transaction of $224,010.00. Following the completion of the sale, the chief executive officer now directly owns 37,722 shares of the company’s stock, valued at $938,900.58. This trade represents a 19.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.63% of the company’s stock.

Institutional Trading of RBB Bancorp

A number of hedge funds have recently made changes to their positions in RBB. BNP Paribas Financial Markets increased its holdings in RBB Bancorp by 13.5% in the third quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock worth $86,000 after buying an additional 444 shares during the last quarter. SG Americas Securities LLC increased its holdings in RBB Bancorp by 20.0% in the fourth 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. R Squared Ltd acquired a new position in RBB Bancorp in the fourth quarter worth approximately $29,000. Rhumbline Advisers grew its holdings in RBB Bancorp by 6.0% during the fourth quarter. Rhumbline Advisers now owns 26,554 shares of the company’s stock valued at $544,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in RBB Bancorp by 5.0% during the fourth quarter. Empowered Funds LLC now owns 55,760 shares of the company’s stock valued at $1,143,000 after purchasing an additional 2,662 shares during the last quarter. 40.14% of the stock is 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.