RBB Bancorp (NASDAQ:RBB) Given New $21.50 Price Target at Piper Sandler

RBB Bancorp (NASDAQ:RBB) had its price objective lifted by Piper Sandler from $21.00 to $21.50 in a research note published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. Stephens restated an equal weight rating and set a $20.00 price objective on shares of RBB Bancorp in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $22.00 price target (up from $20.00) on shares of RBB Bancorp in a report on Thursday, April 25th. Finally, Hovde Group reiterated a market perform rating and issued a $20.00 price target on shares of RBB Bancorp in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, RBB Bancorp presently has an average rating of Hold and an average target price of $20.88.

RBB Bancorp Trading Up 1.0 %

Shares of RBB stock opened at $23.42 on Thursday. RBB Bancorp has a 1 year low of $11.15 and a 1 year high of $23.70. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.09 and a quick ratio of 1.08. The stock’s 50 day simple moving average is $18.95 and its two-hundred day simple moving average is $18.16. The company has a market cap of $431.86 million, a PE ratio of 10.27 and a beta of 0.97.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. RBB Bancorp had a return on equity of 6.95% and a net margin of 16.38%. The business had revenue of $27.45 million for the quarter, compared to the consensus estimate of $27.39 million. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. Research analysts predict that RBB Bancorp will post 1.53 earnings per share for the current year.

RBB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.64 annualized dividend and a yield of 2.73%. RBB Bancorp’s payout ratio is currently 28.07%.

Insiders Place Their Bets

In other news, Director James Kao acquired 7,000 shares of RBB Bancorp 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 acquisition, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RBB. AJOVista LLC bought a new stake in RBB Bancorp during the 4th quarter valued at $59,000. CWM LLC boosted its position in RBB Bancorp by 21.7% during the 2nd quarter. CWM LLC now owns 4,594 shares of the company’s stock valued at $86,000 after acquiring an additional 818 shares in the last quarter. BNP Paribas Financial Markets boosted its position in 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 acquiring an additional 3,892 shares in the last quarter. New York State Common Retirement Fund boosted its position in 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 valued at $170,000 after acquiring an additional 4,503 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in RBB Bancorp during the 4th quarter valued at $177,000. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

RBB Bancorp Company Profile

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.