RBB Bancorp (NASDAQ:RBB) Sees Significant Decline in Short Interest

RBB Bancorp (NASDAQ:RBB) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 107,500 shares, a drop of 37.7% from the October 31st total of 172,600 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 48,300 shares, the short-interest ratio is currently 2.2 days.

Insiders Place Their Bets

In other RBB Bancorp news, CEO David Richard Morris sold 9,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 37,722 shares of the company’s stock, valued at approximately $938,900.58. This trade represents a 19.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.63% of the company’s stock.

Institutional Investors Weigh In On RBB Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in RBB Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 742,411 shares of the company’s stock valued at $13,371,000 after buying an additional 4,464 shares in the last quarter. Quadrature Capital Ltd grew its position in RBB Bancorp by 29.8% in the 1st quarter. Quadrature Capital Ltd now owns 16,884 shares of the company’s stock valued at $304,000 after buying an additional 3,880 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in RBB Bancorp by 4.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 45,707 shares of the company’s stock worth $823,000 after acquiring an additional 2,105 shares during the period. CWM LLC grew its holdings in shares of RBB Bancorp by 21.7% in 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. Finally, Bank of New York Mellon Corp increased its holdings in RBB Bancorp by 8.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,987 shares of the company’s stock valued at $1,636,000 after acquiring an additional 6,781 shares in the last quarter. 40.14% of the stock is currently owned by institutional investors and hedge funds.

RBB Bancorp Stock Performance

Shares of NASDAQ:RBB traded down $0.29 during trading on Thursday, hitting $23.92. 24,946 shares of the stock traded hands, compared to its average volume of 51,631. The company has a fifty day moving average price of $23.36 and a two-hundred day moving average price of $21.35. RBB Bancorp has a 52-week low of $15.10 and a 52-week high of $25.30. The company has a market cap of $423.22 million, a price-to-earnings ratio of 12.93 and a beta of 0.95. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $60.17 million during the quarter, compared to analysts’ expectations of $28.17 million. RBB Bancorp had a net margin of 14.50% and a return on equity of 5.94%. During the same quarter in the prior year, the company posted $0.63 EPS. As a group, equities analysts predict that RBB Bancorp will post 1.58 EPS for the current year.

RBB Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were paid a $0.16 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.64 dividend on an annualized basis and a yield of 2.68%. RBB Bancorp’s dividend payout ratio is currently 34.59%.

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.