RBB Bancorp (NASDAQ:RBB) to Issue Quarterly Dividend of $0.16

RBB Bancorp (NASDAQ:RBB) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.16 per share on Monday, August 12th. This represents a $0.64 annualized dividend and a yield of 2.81%. The ex-dividend date is Wednesday, July 31st.

RBB Bancorp has raised its dividend by an average of 24.7% annually over the last three years. RBB Bancorp has a dividend payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect RBB Bancorp to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 38.8%.

RBB Bancorp Stock Down 2.9 %

NASDAQ:RBB opened at $22.74 on Tuesday. The firm has a market capitalization of $419.33 million, a price-to-earnings ratio of 9.97 and a beta of 0.97. RBB Bancorp has a 1-year low of $11.15 and a 1-year high of $23.70. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average price is $19.03 and its 200 day moving average price is $18.19.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.05. The firm had revenue of $27.45 million for the quarter, compared to analyst estimates of $27.39 million. RBB Bancorp had a return on equity of 6.95% and a net margin of 16.38%. RBB Bancorp’s quarterly revenue was down 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share. On average, sell-side analysts forecast that RBB Bancorp will post 1.53 earnings per share for the current fiscal year.

Insider Activity

In related news, Director James Kao acquired 7,000 shares of the stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $17.08 per share, with a total value of $119,560.00. Following the acquisition, the director now owns 548,511 shares in the company, valued at approximately $9,368,567.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RBB shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $22.00 price target (up from $20.00) on shares of RBB Bancorp in a research report on Thursday, April 25th. Stephens reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of RBB Bancorp in a research report on Tuesday, July 23rd. Piper Sandler upped their target price on RBB Bancorp from $21.00 to $21.50 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Hovde Group reaffirmed a “market perform” rating and issued a $20.00 target price on shares of RBB Bancorp in a research report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, RBB Bancorp currently has a consensus rating of “Hold” and a consensus target price of $20.88.

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.