RBB Bancorp (NASDAQ: RBB – Get a rating) – Piper Sandler analysts cut their second quarter 2023 earnings per share (EPS) estimates for RBB Bancorp in a report released Tuesday, March 29. Piper Sandler analyst N. Cucharale now expects the company to post earnings of $0.78 per share for the quarter, down from its previous estimate of $0.79. Piper Sandler has an “underweight” rating and a price target of $25.50 on the stock. Piper Sandler also released estimates for RBB Bancorp’s fourth quarter 2023 earnings at $0.81 EPS.
A number of other research analysts have also recently commented on RBB. Hovde Group upgraded RBB Bancorp from an ‘outperforming’ rating to a ‘market performing’ rating and lowered its price target for the company from $35.00 to $30.00 in a research note Tuesday, February 22. Janney Montgomery Scott upgraded RBB Bancorp from a “buy” rating to a “neutral” rating and set a price target of $27.00 for the company. in a research note from Wednesday, February 23. Ultimately, Zacks Investment Research upgraded RBB Bancorp from a “buy” to a “hold” rating in a Thursday, Jan. 6 research note. One analyst rated the stock with a sell rating and four rated the company’s stock with a hold rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.60.
The NASDAQ RBB opened Wednesday at $24.34. The firm’s fifty-day simple moving average is $25.39. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt ratio of 0.72. RBB Bancorp has a fifty-two week low of $19.06 and a fifty-two week high of $29.08. The company has a market capitalization of $473.41 million, a PE ratio of 8.51 and a beta of 0.89. RBB Bancorp (NASDAQ: RBB – Get a rating) last released its results on Monday, January 24. The company reported earnings per share of $0.79 for the quarter, beating the consensus estimate of $0.74 by $0.05. RBB Bancorp had a return on equity of 12.64% and a net margin of 34.32%. The company posted revenue of $36.38 million in the quarter, compared to $35.95 million expected by analysts. During the same period of the previous year, the company had earned earnings per share of $0.56.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 1. Investors of record on Monday, January 31 received a dividend of $0.14. This is a boost from RBB Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, January 28. This represents an annualized dividend of $0.56 and a yield of 2.30%. RBB Bancorp’s dividend payout ratio (DPR) is currently 19.58%.
Several institutional investors have recently bought and sold shares of the company. Barclays PLC increased its position in RBB Bancorp shares by 189.0% during the fourth quarter. Barclays PLC now owns 17,081 shares in the company worth $447,000 after buying an additional 11,170 shares last quarter. BlackRock Inc. increased its stake in RBB Bancorp shares by 0.6% during the 4th quarter. BlackRock Inc. now owns 1,008,760 shares of the company worth $26,430,000 after purchasing an additional 6,078 shares in the last quarter. Wells Fargo & Company MN increased its stake in RBB Bancorp shares by 26.1% during the 4th quarter. Wells Fargo & Company MN now owns 36,952 shares of the company worth $968,000 after purchasing an additional 7,646 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in RBB Bancorp shares by 125.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 21,658 shares of the company worth $567,000 after buying 12,067 additional shares in the last quarter. Finally, Deutsche Bank AG increased its stake in RBB Bancorp shares by 5.5% during the 4th quarter. Deutsche Bank AG now owns 8,537 shares in the company worth $224,000 after buying 442 more shares in the last quarter. 37.24% of the shares are currently held by hedge funds and other institutional investors.
About RBB Bancorp (Get a rating)
RBB Bancorp operates as a bank holding company. The company is committed to providing a full-service commercial bank. Its services include remote deposit, online banking, mobile banking, commercial and investment real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, residential loans for 1 to 4 families, trade finance and a full range of deposit accounts.
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