RBB Bancorp (NASDAQ:RBB) Short Interest Update

RBB Bancorp (NASDAQ:RBB) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 104,400 shares, a decline of 21.6% from the May 31st total of 133,100 shares. Based on an average daily volume of 44,000 shares, the short-interest ratio is currently 2.4 days. Currently, 0.6% of the shares of the stock are short sold.

RBB Bancorp Trading Up 3.7 %

Shares of NASDAQ:RBB traded up $0.67 during midday trading on Friday, hitting $18.81. 326,316 shares of the stock traded hands, compared to its average volume of 51,356. The business’s 50 day moving average is $18.10 and its two-hundred day moving average is $17.94. The stock has a market capitalization of $346.86 million, a PE ratio of 8.25 and a beta of 0.96. RBB Bancorp has a one year low of $11.15 and a one year high of $20.22. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.55.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.08. The business had revenue of $58.17 million for the quarter, compared to analysts’ expectations of $27.40 million. RBB Bancorp had a net margin of 17.69% and a return on equity of 7.71%. During the same quarter last year, the company posted $0.58 EPS. As a group, research analysts forecast that RBB Bancorp will post 1.51 earnings per share for the current year.

RBB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Tuesday, April 30th. RBB Bancorp’s dividend payout ratio is presently 28.07%.

Insider Activity

In related news, Director James Kao acquired 7,000 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $17.08 per share, with a total value of $119,560.00. Following the acquisition, the director now owns 548,511 shares of the company’s stock, valued at approximately $9,368,567.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. AJOVista LLC bought a new stake in shares of RBB Bancorp during the 4th quarter valued at $59,000. Quadrature Capital Ltd bought a new stake in shares of RBB Bancorp during the 3rd quarter valued at $138,000. BNP Paribas Financial Markets raised its position in shares of RBB Bancorp by 89.6% during the 1st quarter. BNP Paribas Financial Markets now owns 8,236 shares of the company’s stock valued at $148,000 after purchasing an additional 3,892 shares during the period. New York State Common Retirement Fund increased its holdings in RBB Bancorp by 101.4% in the 4th quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock valued at $170,000 after acquiring an additional 4,503 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in RBB Bancorp in the 4th quarter valued at $177,000. Hedge funds and other institutional investors own 40.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $22.00 price target (up from $20.00) on shares of RBB Bancorp in a research note on Thursday, April 25th. Stephens reissued an “equal weight” rating and issued a $20.00 price target on shares of RBB Bancorp in a research note on Tuesday, April 23rd. Finally, Hovde Group assumed coverage on shares of RBB Bancorp in a research note on Monday, April 22nd. They issued a “market perform” rating and a $19.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, RBB Bancorp currently has an average rating of “Hold” and a consensus target price of $18.50.

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.