Equities analysts forecast that RBB Bancorp (NASDAQ:RBB) will post $28.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for RBB Bancorp’s earnings, with the highest sales estimate coming in at $29.50 million and the lowest estimate coming in at $28.20 million. RBB Bancorp reported sales of $26.31 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.7%. The business is expected to issue its next quarterly earnings results on Monday, October 19th.
On average, analysts expect that RBB Bancorp will report full year sales of $115.05 million for the current fiscal year, with estimates ranging from $112.70 million to $117.40 million. For the next year, analysts anticipate that the business will report sales of $123.35 million, with estimates ranging from $118.20 million to $128.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover RBB Bancorp.
RBB Bancorp (NASDAQ:RBB) last posted its earnings results on Monday, July 27th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $27.24 million for the quarter, compared to analysts’ expectations of $27.40 million. RBB Bancorp had a net margin of 21.00% and a return on equity of 8.10%.
RBB has been the topic of several analyst reports. Zacks Investment Research raised shares of RBB Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 2nd. TheStreet raised shares of RBB Bancorp from a “d” rating to a “c” rating in a research note on Monday, July 27th. Piper Sandler initiated coverage on shares of RBB Bancorp in a research note on Thursday, June 18th. They issued a “hold” rating and a $14.00 price objective on the stock. BidaskClub cut shares of RBB Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Janney Montgomery Scott cut shares of RBB Bancorp from a “buy” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $17.75.
Shares of RBB Bancorp stock traded down $0.21 during trading on Tuesday, hitting $12.80. The company’s stock had a trading volume of 67,137 shares, compared to its average volume of 49,437. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.15 and a quick ratio of 1.13. RBB Bancorp has a 52 week low of $10.61 and a 52 week high of $21.90. The stock has a market cap of $255.42 million, a price-to-earnings ratio of 8.15 and a beta of 0.95. The stock has a 50-day moving average price of $13.09 and a two-hundred day moving average price of $14.89.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.24 annualized dividend and a yield of 1.88%. RBB Bancorp’s payout ratio is 12.31%.
In other news, Director James Kao bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $13.08 per share, for a total transaction of $26,160.00. Following the completion of the acquisition, the director now directly owns 408,876 shares in the company, valued at $5,348,098.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 11,000 shares of company stock worth $133,560. 20.66% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. increased its holdings in shares of RBB Bancorp by 66.4% during the fourth quarter. Citigroup Inc. now owns 3,283 shares of the company’s stock valued at $70,000 after acquiring an additional 1,310 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of RBB Bancorp by 236.6% during the fourth quarter. Renaissance Technologies LLC now owns 175,700 shares of the company’s stock valued at $3,720,000 after acquiring an additional 123,500 shares in the last quarter. UBS Group AG increased its holdings in shares of RBB Bancorp by 53.0% during the fourth quarter. UBS Group AG now owns 21,067 shares of the company’s stock valued at $446,000 after acquiring an additional 7,294 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of RBB Bancorp by 65.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 49,603 shares of the company’s stock valued at $1,050,000 after acquiring an additional 19,534 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of RBB Bancorp by 79.1% during the fourth quarter. Bank of New York Mellon Corp now owns 145,319 shares of the company’s stock valued at $3,076,000 after acquiring an additional 64,194 shares in the last quarter. Institutional investors own 31.74% 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 communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.
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