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

RBB Bancorp (NASDAQ:RBB) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 78,000 shares, a decrease of 28.9% from the January 31st total of 109,700 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average trading volume of 42,700 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RBB. Stephens cut their target price on RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their target price on RBB Bancorp from $26.00 to $22.00 and set a “market perform” rating on the stock in a report on Friday, February 7th. Finally, Piper Sandler decreased their target price on RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th.

RBB Bancorp Stock Performance

Shares of RBB traded up $0.06 during trading hours on Wednesday, reaching $17.49. 13,795 shares of the company traded hands, compared to its average volume of 42,813. RBB Bancorp has a 1-year low of $16.54 and a 1-year high of $25.30. 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 fifty day moving average is $19.04 and its 200 day moving average is $21.64. The stock has a market cap of $309.45 million, a P/E ratio of 12.00 and a beta of 0.95.

RBB Bancorp (NASDAQ:RBB) last announced its earnings results 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 net margin of 11.49% and a return on equity of 5.21%. Equities research analysts anticipate that RBB Bancorp will post 1.63 earnings per share for the current fiscal year.

RBB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Friday, January 31st were given a $0.16 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.66%. RBB Bancorp’s dividend payout ratio is presently 43.84%.

Insider Activity at RBB Bancorp

In other news, EVP Gary Fan sold 12,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $23.45, for a total transaction of $281,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Kao purchased 3,352 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of $17.31 per share, for a total transaction of $58,023.12. Following the completion of the acquisition, the director now directly owns 551,863 shares of the company’s stock, valued at $9,552,748.53. This represents a 0.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 9,924 shares of company stock valued at $171,398. Insiders own 6.63% of the company’s stock.

Hedge Funds Weigh In On RBB Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBB. R Squared Ltd acquired a new position in RBB Bancorp during the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC boosted its holdings in shares of RBB Bancorp by 195.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the company’s stock valued at $36,000 after acquiring an additional 1,149 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of RBB Bancorp by 13.5% in the third quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock worth $86,000 after purchasing an additional 444 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of RBB Bancorp by 20.0% in the 4th quarter. SG Americas Securities LLC now owns 6,992 shares of the company’s stock worth $143,000 after purchasing an additional 1,167 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of RBB Bancorp by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 9,564 shares of the company’s stock worth $196,000 after acquiring an additional 1,925 shares in the last quarter. 40.14% of the stock is owned by institutional investors and hedge funds.

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.