RBB Bancorp (NASDAQ:RBB) Given New $22.00 Price Target at Keefe, Bruyette & Woods

RBB Bancorp (NASDAQ:RBB) had its price target lowered by Keefe, Bruyette & Woods from $26.00 to $22.00 in a research note released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other analysts also recently weighed in on the company. Piper Sandler dropped their price target on RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday. Stephens dropped their target price on RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday.

RBB Bancorp Price Performance

Shares of RBB stock opened at $18.57 on Friday. The firm has a market capitalization of $328.56 million, a price-to-earnings ratio of 10.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $20.92 and its 200-day simple moving average is $22.19. RBB Bancorp has a fifty-two week low of $16.54 and a fifty-two week high of $25.30.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). RBB Bancorp had a net margin of 14.50% and a return on equity of 5.94%. As a group, equities analysts forecast that RBB Bancorp will post 1.59 earnings per share for the current fiscal year.

RBB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.45%. RBB Bancorp’s payout ratio is currently 43.84%.

Insider Activity

In related news, CEO David Richard Morris sold 9,000 shares of the 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 directly owns 37,722 shares of the company’s stock, valued at approximately $938,900.58. This represents a 19.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gary Fan sold 12,000 shares of RBB Bancorp stock in a transaction on Friday, December 6th. The shares were sold at an average price of $23.45, for a total transaction of $281,400.00. The disclosure for this sale can be found here. Insiders own 6.63% of the company’s stock.

Institutional Trading of RBB Bancorp

Institutional investors have recently bought and sold shares of the business. State Street Corp grew its stake in RBB Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 323,727 shares of the company’s stock valued at $7,452,000 after acquiring an additional 11,809 shares during the period. Empowered Funds LLC grew its position in shares of RBB Bancorp by 5.0% in the fourth quarter. Empowered Funds LLC now owns 55,760 shares of the company’s stock valued at $1,143,000 after purchasing an additional 2,662 shares during the period. Zacks Investment Management acquired a new position in shares of RBB Bancorp during the 3rd quarter worth about $1,208,000. JPMorgan Chase & Co. raised its position in shares of RBB Bancorp by 572.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,264 shares of the company’s stock worth $1,157,000 after purchasing an additional 42,786 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in RBB Bancorp by 50.9% in the 3rd quarter. Jane Street Group LLC now owns 27,582 shares of the company’s stock valued at $635,000 after buying an additional 9,305 shares in the last quarter. 40.14% of the stock is owned by institutional investors and hedge funds.

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.