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

RBB Bancorp (NASDAQ:RBB) had its price target decreased by Piper Sandler from $23.00 to $20.00 in a report released on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

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

RBB Bancorp Stock Up 0.6 %

RBB Bancorp stock opened at $18.66 on Wednesday. The firm 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 52-week low of $16.49 and a 52-week 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 firm has a 50 day moving average price of $21.02 and a two-hundred day moving average price of $22.21.

RBB Bancorp (NASDAQ:RBB) last released its earnings results on Monday, February 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). RBB Bancorp had a net margin of 14.50% and a return on equity of 5.94%. Equities analysts predict that RBB Bancorp will post 1.59 EPS for the current year.

RBB Bancorp Dividend Announcement

The business also recently declared 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 is Friday, January 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.43%. RBB Bancorp’s dividend payout ratio (DPR) is currently 34.59%.

Insider Activity

In related news, CEO David Richard Morris sold 9,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $24.89, for a total value of $224,010.00. Following the transaction, the chief executive officer now directly owns 37,722 shares of the company’s stock, valued at approximately $938,900.58. The trade was a 19.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Corporate insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in RBB Bancorp during the 2nd quarter worth about $244,000. SG Americas Securities LLC purchased a new stake in shares of RBB Bancorp in the third quarter worth $134,000. Unison Advisors LLC bought a new stake in RBB Bancorp during the third quarter valued at $704,000. Empowered Funds LLC grew its position in RBB Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 53,098 shares of the company’s stock worth $1,222,000 after buying an additional 2,680 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of RBB Bancorp in the 3rd quarter valued at about $295,000. Institutional investors own 40.14% of the company’s stock.

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.