RBB Bancorp (NASDAQ:RBB) CEO David Richard Morris Sells 9,000 Shares

RBB Bancorp (NASDAQ:RBB) CEO David Richard Morris sold 9,000 shares of RBB Bancorp stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $24.89, for a total value of $224,010.00. Following the completion of the sale, the chief executive officer now owns 37,722 shares in the company, valued at approximately $938,900.58. This trade represents a 19.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

RBB Bancorp Price Performance

Shares of NASDAQ:RBB traded up $0.02 during midday trading on Friday, hitting $24.85. 6,791 shares of the stock were exchanged, compared to its average volume of 51,486. The stock has a market cap of $439.60 million, a P/E ratio of 13.42 and a beta of 0.95. RBB Bancorp has a twelve month low of $14.84 and a twelve month high of $25.30. The company has a 50 day moving average price of $23.06 and a 200-day moving average price of $20.96. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.66.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $60.17 million for the quarter, compared to the consensus estimate of $28.17 million. RBB Bancorp had a net margin of 14.50% and a return on equity of 5.94%. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, research analysts forecast that RBB Bancorp will post 1.58 earnings per share for the current year.

RBB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.58%. The ex-dividend date was Thursday, October 31st. RBB Bancorp’s payout ratio is 34.59%.

Hedge Funds Weigh In On RBB Bancorp

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC raised its position in shares of RBB Bancorp by 21.7% in the second quarter. CWM LLC now owns 4,594 shares of the company’s stock valued at $86,000 after buying an additional 818 shares during the last quarter. BNP Paribas Financial Markets grew its stake in RBB Bancorp by 13.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock worth $86,000 after acquiring an additional 444 shares during the period. SG Americas Securities LLC acquired a new position in RBB Bancorp in the 3rd quarter valued at $134,000. AQR Capital Management LLC purchased a new position in shares of RBB Bancorp during the 2nd quarter worth $244,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of RBB Bancorp during the third quarter worth $295,000. 40.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RBB. Piper Sandler increased their price target on shares of RBB Bancorp from $21.00 to $21.50 and gave the company a “neutral” rating in a report on Thursday, July 25th. Stephens reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of RBB Bancorp in a report on Tuesday, July 23rd. Four equities research 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 price target 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.