Short Interest in RBB Bancorp (NASDAQ:RBB) Declines By 38.0%

RBB Bancorp (NASDAQ:RBB) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 113,739 shares, a decrease of 38.0% from the December 15th total of 183,356 shares. Based on an average daily trading volume, of 51,161 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.7% of the company’s stock are short sold. Approximately 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 51,161 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on RBB Bancorp from $21.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 22nd. Wall Street Zen raised shares of RBB Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Piper Sandler raised their price objective on shares of RBB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of RBB Bancorp in a research note on Friday, October 31st. Finally, Zacks Research lowered shares of RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.33.

RBB Bancorp Trading Down 1.4%

Shares of NASDAQ:RBB traded down $0.30 during mid-day trading on Friday, reaching $21.56. 47,681 shares of the company were exchanged, compared to its average volume of 43,284. RBB Bancorp has a 1 year low of $14.40 and a 1 year high of $22.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s 50-day simple moving average is $20.73 and its 200 day simple moving average is $19.55. The firm has a market cap of $367.60 million, a price-to-earnings ratio of 14.47 and a beta of 1.08.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, October 20th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.41 by $0.18. RBB Bancorp had a net margin of 11.12% and a return on equity of 5.10%. The business had revenue of $32.57 million during the quarter, compared to the consensus estimate of $31.72 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Equities research analysts forecast that RBB Bancorp will post 1.63 EPS for the current year.

RBB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Friday, October 31st were given a $0.16 dividend. The ex-dividend date was Friday, October 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.0%. RBB Bancorp’s dividend payout ratio (DPR) is presently 42.95%.

Hedge Funds Weigh In On RBB Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of RBB Bancorp by 20.4% in the 1st quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock valued at $268,000 after purchasing an additional 2,762 shares in the last quarter. Empowered Funds LLC boosted its position in shares of RBB Bancorp by 8.2% in the 1st quarter. Empowered Funds LLC now owns 60,331 shares of the company’s stock valued at $995,000 after purchasing an additional 4,571 shares during the period. Jane Street Group LLC raised its holdings in shares of RBB Bancorp by 75.9% during the first quarter. Jane Street Group LLC now owns 28,823 shares of the company’s stock valued at $476,000 after acquiring an additional 12,437 shares during the period. Strs Ohio purchased a new position in shares of RBB Bancorp during the first quarter valued at $482,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of RBB Bancorp in the 2nd quarter valued at about $430,000. 40.14% of the stock is owned by institutional investors and hedge funds.

About RBB Bancorp

RBB Bancorp is a bank holding company headquartered in Los Angeles, California, and the parent of Royal Business Bank. Established in 2008, the company focuses on providing a full range of commercial banking services tailored to small- and medium-sized businesses, professionals and real estate investors. Through its subsidiary, RBB Bancorp delivers deposit products, loan facilities and cash management solutions designed to support operations and growth strategies.

The company’s core offerings include commercial real estate lending, construction and land development loans, Small Business Administration (SBA) lending and trade finance.