RBB Bancorp (NASDAQ:RBB) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 75,000 shares, a decrease of 20.0% from the September 30th total of 93,700 shares. Based on an average daily volume of 55,700 shares, the short-interest ratio is presently 1.3 days. Approximately 0.5% of the company’s shares are short sold.
A number of research firms have commented on RBB. BidaskClub lowered RBB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Zacks Investment Research lowered RBB Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised RBB Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods set a $21.00 price target on RBB Bancorp and gave the company a “hold” rating in a research report on Wednesday, September 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $21.50.
Shares of NASDAQ:RBB traded down $0.17 during trading on Thursday, hitting $20.08. The stock had a trading volume of 32,900 shares, compared to its average volume of 44,170. RBB Bancorp has a 12 month low of $17.03 and a 12 month high of $22.95. The company has a market capitalization of $414.07 million, a PE ratio of 9.43 and a beta of 1.14. The firm’s fifty day moving average is $20.06 and its 200 day moving average is $19.42. The company has a quick ratio of 1.03, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.
RBB Bancorp (NASDAQ:RBB) last announced its earnings results on Monday, October 21st. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. RBB Bancorp had a return on equity of 9.90% and a net margin of 23.88%. The firm had revenue of $26.31 million during the quarter, compared to analyst estimates of $27.01 million. Equities research analysts expect that RBB Bancorp will post 1.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, October 30th. RBB Bancorp’s dividend payout ratio is currently 18.78%.
In other RBB Bancorp news, Director Peter M. Chang purchased 115,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price of $20.00 per share, with a total value of $2,300,000.00. Corporate insiders own 23.92% of the company’s stock.
Several large investors have recently made changes to their positions in RBB. Wells Fargo & Company MN increased its position in RBB Bancorp by 2.7% during the 2nd quarter. Wells Fargo & Company MN now owns 24,331 shares of the company’s stock valued at $470,000 after buying an additional 647 shares in the last quarter. Cox Capital Mgt LLC increased its position in RBB Bancorp by 5.6% during the 2nd quarter. Cox Capital Mgt LLC now owns 12,598 shares of the company’s stock valued at $244,000 after buying an additional 672 shares in the last quarter. JPMorgan Chase & Co. increased its position in RBB Bancorp by 31.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,459 shares of the company’s stock valued at $89,000 after buying an additional 1,071 shares in the last quarter. Tower Research Capital LLC TRC increased its position in RBB Bancorp by 435.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,554 shares of the company’s stock valued at $30,000 after buying an additional 1,264 shares in the last quarter. Finally, Bank of Montreal Can increased its position in RBB Bancorp by 27,600.0% during the 2nd quarter. Bank of Montreal Can now owns 1,385 shares of the company’s stock valued at $27,000 after buying an additional 1,380 shares in the last quarter. 30.88% of the stock is 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 communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.
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