Share Repurchase Program Declared by RBB Bancorp (NASDAQ:RBB)

RBB Bancorp (NASDAQ:RBB) declared that its Board of Directors has initiated a share repurchase plan on Monday, June 15th, RTT News reports. The company plans to buyback 1,000,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Hovde Group lifted their target price on shares of RBB Bancorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, Zacks Research upgraded shares of RBB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, RBB Bancorp has an average rating of “Moderate Buy” and an average target price of $23.33.

RBB Bancorp Price Performance

Shares of RBB traded up $0.26 during mid-day trading on Monday, reaching $25.00. The stock had a trading volume of 340,107 shares, compared to its average volume of 125,226. RBB Bancorp has a 12 month low of $15.94 and a 12 month high of $25.38. The business has a fifty day moving average of $23.56 and a 200 day moving average of $22.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $423.50 million, a price-to-earnings ratio of 10.59 and a beta of 1.05.

RBB Bancorp (NASDAQ:RBB) last released its earnings results on Monday, April 20th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.45 by $0.21. RBB Bancorp had a net margin of 16.76% and a return on equity of 7.85%. The firm had revenue of $34.75 million for the quarter, compared to the consensus estimate of $32.38 million. Equities analysts predict that RBB Bancorp will post 2.35 EPS for the current year.

RBB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 2.6%. RBB Bancorp’s dividend payout ratio is presently 27.12%.

Insider Activity at RBB Bancorp

In related news, Director Chuang I. Lin sold 10,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $24.23, for a total transaction of $242,300.00. Following the sale, the director owned 51,347 shares of the company’s stock, valued at $1,244,137.81. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gary Fan sold 2,368 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.01, for a total transaction of $56,855.68. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,814 shares of company stock valued at $597,630 over the last 90 days. 6.78% of the stock is owned by corporate insiders.

RBB Bancorp Company Profile

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.