RBB Bancorp (NASDAQ:RBB) Short Interest Update

RBB Bancorp (NASDAQ:RBB) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 104,400 shares, a drop of 21.6% from the May 31st total of 133,100 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 44,000 shares, the short-interest ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RBB. Hovde Group began coverage on shares of RBB Bancorp in a research report on Monday, April 22nd. They set a “market perform” rating and a $19.00 price objective for the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $22.00 price objective (up from $20.00) on shares of RBB Bancorp in a research report on Thursday, April 25th. Finally, Stephens restated an “equal weight” rating and set a $20.00 price objective on shares of RBB Bancorp in a research report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.50.

RBB Bancorp Trading Up 3.7 %

Shares of RBB traded up $0.67 during trading on Friday, reaching $18.81. 326,316 shares of the company traded hands, compared to its average volume of 51,356. RBB Bancorp has a twelve month low of $11.15 and a twelve month high of $20.22. The stock has a market cap of $346.86 million, a PE ratio of 8.25 and a beta of 0.96. The stock has a 50-day simple moving average of $18.10 and a 200-day simple moving average of $17.94. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.55.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. RBB Bancorp had a net margin of 17.69% and a return on equity of 7.71%. The business had revenue of $58.17 million during the quarter, compared to analysts’ expectations of $27.40 million. During the same period last year, the business earned $0.58 earnings per share. On average, analysts anticipate that RBB Bancorp will post 1.51 earnings per share for the current year.

RBB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Tuesday, April 30th. RBB Bancorp’s dividend payout ratio is presently 28.07%.

Insider Buying and Selling at RBB Bancorp

In other news, Director James Kao acquired 7,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $17.08 per share, for a total transaction of $119,560.00. Following the completion of the transaction, the director now owns 548,511 shares in the company, valued at $9,368,567.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RBB. Quadrature Capital Ltd purchased a new position in shares of RBB Bancorp in the third quarter valued at approximately $138,000. SG Americas Securities LLC purchased a new position in shares of RBB Bancorp in the fourth quarter valued at approximately $177,000. Wedge Capital Management L L P NC boosted its stake in shares of RBB Bancorp by 0.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 78,338 shares of the company’s stock valued at $1,492,000 after purchasing an additional 641 shares during the period. New York State Common Retirement Fund boosted its stake in shares of RBB Bancorp by 101.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock valued at $170,000 after purchasing an additional 4,503 shares during the period. Finally, AJOVista LLC purchased a new position in RBB Bancorp in the fourth quarter worth approximately $59,000. Hedge funds and other 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.