RBB Bancorp (NASDAQ:RBB) Short Interest Down 28.9% in February

RBB Bancorp (NASDAQ:RBB) was the recipient of a significant decrease in short interest in 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 company are sold short. Based on an average daily trading volume, of 42,700 shares, the short-interest ratio is presently 1.8 days.

RBB Bancorp Stock Performance

Shares of NASDAQ:RBB remained flat at $17.43 on Tuesday. 48,220 shares of the stock were exchanged, compared to its average volume of 42,854. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66. RBB Bancorp has a fifty-two week low of $16.54 and a fifty-two week high of $25.30. The company has a market capitalization of $308.39 million, a price-to-earnings ratio of 11.94 and a beta of 0.97. The stock’s fifty day simple moving average is $19.12 and its 200-day simple moving average is $21.67.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings data on Monday, February 3rd. The company reported $0.25 EPS 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%. As a group, analysts forecast that RBB Bancorp will post 1.63 earnings per share for the current year.

RBB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Friday, January 31st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Friday, January 31st. RBB Bancorp’s dividend payout ratio (DPR) is presently 43.84%.

Insider Buying and Selling

In other news, Director James Kao bought 5,960 shares of RBB Bancorp stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average price of $17.24 per share, with a total value of $102,750.40. Following the completion of the acquisition, the director now directly owns 557,823 shares in the company, valued at $9,616,868.52. The trade was a 1.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gary Fan sold 12,000 shares of the firm’s stock in a transaction that occurred 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. Over the last three months, insiders have bought 9,924 shares of company stock valued at $171,398. Corporate insiders own 6.63% of the company’s stock.

Institutional Trading of RBB Bancorp

A number of hedge funds have recently made changes to their positions in RBB. Squarepoint Ops LLC acquired a new position in RBB Bancorp during the fourth quarter worth about $215,000. Deutsche Bank AG lifted its holdings in shares of RBB Bancorp by 229.0% during the 4th quarter. Deutsche Bank AG now owns 15,860 shares of the company’s stock valued at $325,000 after buying an additional 11,040 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in RBB Bancorp by 2.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 121,643 shares of the company’s stock worth $2,492,000 after purchasing an additional 2,662 shares during the last quarter. Bank of America Corp DE increased its position in shares of RBB Bancorp by 22.6% during the fourth quarter. Bank of America Corp DE now owns 18,749 shares of the company’s stock valued at $384,000 after purchasing an additional 3,462 shares during the period. Finally, Rhino Investment Partners Inc grew its position in RBB Bancorp by 231.8% in the fourth quarter. Rhino Investment Partners Inc now owns 513,546 shares of the company’s stock valued at $10,523,000 after acquiring an additional 358,779 shares during the period. Institutional investors and hedge funds own 40.14% of the company’s stock.

Analysts Set New Price Targets

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

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.