Piper Sandler Reiterates “Neutral” Rating for RBB Bancorp (NASDAQ:RBB)

Piper Sandler restated their neutral rating on shares of RBB Bancorp (NASDAQ:RBB) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $21.00 price objective on the stock, up from their prior price objective of $19.00.

A number of other research analysts have also issued reports on the company. Hovde Group reiterated a market perform rating and issued a $20.00 target price on shares of RBB Bancorp in a report on Monday, July 15th. Stephens reiterated an equal weight rating and issued a $20.00 price objective on shares of RBB Bancorp in a research note on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods restated a market perform rating and set a $22.00 target price (up from $20.00) on shares of RBB Bancorp in a research note on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, RBB Bancorp has a consensus rating of Hold and a consensus target price of $20.75.

RBB Bancorp Stock Down 0.5 %

Shares of RBB opened at $21.67 on Thursday. The company’s 50-day moving average price is $18.55 and its 200 day moving average price is $18.00. RBB Bancorp has a 12-month low of $11.15 and a 12-month high of $22.24. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.55. The firm has a market cap of $399.59 million, a P/E ratio of 9.50 and a beta of 0.97.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.08. The firm had revenue of $58.17 million for the quarter, compared to the consensus estimate of $27.40 million. RBB Bancorp had a return on equity of 7.71% and a net margin of 17.69%. During the same quarter in the previous year, the business earned $0.58 EPS. On average, sell-side analysts forecast that RBB Bancorp will post 1.5 earnings per share for the current year.

RBB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 2.95%. RBB Bancorp’s dividend payout ratio is currently 28.07%.

Insider Activity

In related news, Director James Kao purchased 7,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $17.08 per share, for a total transaction of $119,560.00. Following the completion of the purchase, the director now directly owns 548,511 shares of the company’s stock, valued at approximately $9,368,567.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.63% of the company’s stock.

Institutional Trading of RBB Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. AJOVista LLC acquired a new stake in shares of RBB Bancorp during the fourth quarter worth about $59,000. CWM LLC lifted its position in RBB Bancorp by 21.7% during the 2nd quarter. CWM LLC now owns 4,594 shares of the company’s stock worth $86,000 after acquiring an additional 818 shares during the period. BNP Paribas Financial Markets boosted 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 worth $148,000 after purchasing an additional 3,892 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of RBB Bancorp by 101.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock worth $170,000 after purchasing an additional 4,503 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of RBB Bancorp in the 4th quarter valued at about $177,000. Hedge funds and other institutional investors own 40.14% of the company’s stock.

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.