RBB Bancorp (NASDAQ:RBB) Price Target Cut to $20.00 by Analysts at Piper Sandler

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

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

RBB Bancorp Stock Performance

Shares of NASDAQ RBB opened at $18.66 on Wednesday. The stock’s 50-day moving average is $21.02 and its 200 day moving average is $22.21. The stock has a market cap of $330.10 million, a price-to-earnings ratio of 10.09 and a beta of 0.97. RBB Bancorp has a 1-year low of $16.49 and a 1-year high of $25.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, February 3rd. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). RBB Bancorp had a return on equity of 5.94% and a net margin of 14.50%. On average, sell-side analysts anticipate that RBB Bancorp will post 1.59 EPS for the current fiscal year.

RBB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, January 31st. RBB Bancorp’s dividend payout ratio (DPR) is currently 34.59%.

Insider Activity

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

Institutional Investors Weigh In On RBB Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in shares of RBB Bancorp by 13.5% in the 3rd 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 shares of RBB Bancorp by 20.0% during the fourth quarter. SG Americas Securities LLC now owns 6,992 shares of the company’s stock valued at $143,000 after acquiring an additional 1,167 shares in the last quarter. R Squared Ltd purchased a new position in shares of RBB Bancorp in the 4th quarter worth about $29,000. Rhumbline Advisers grew its position in RBB Bancorp by 6.0% during the 4th 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 raised its holdings in RBB Bancorp by 5.0% in the fourth 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. 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.