RBB Bancorp (NASDAQ:RBB) Short Interest Update
RBB Bancorp (NASDAQ:RBB) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 75,000 shares, a decline of 20.0% from the September 30th total of 93,700 shares. Based on an average daily volume of 55,700 shares, the short-interest ratio is presently 1.3 days. Currently, 0.5% of the shares of the company are short sold.
Several equities analysts recently weighed in on the company. BidaskClub downgraded RBB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. ValuEngine upgraded RBB Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods set a $21.00 target price on RBB Bancorp and gave the company a “hold” rating in a research report on Wednesday, September 18th. Finally, Zacks Investment Research downgraded RBB Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $21.50.
NASDAQ:RBB traded down $0.17 on Thursday, reaching $20.08. 32,900 shares of the company’s stock traded hands, compared to its average volume of 44,170. The company has a quick ratio of 1.03, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The stock has a 50-day simple moving average of $20.06 and a 200-day simple moving average of $19.42. The firm has a market cap of $414.07 million, a PE ratio of 9.43 and a beta of 1.14. RBB Bancorp has a 12 month low of $17.03 and a 12 month high of $22.95.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.99%. RBB Bancorp’s dividend payout ratio is presently 18.78%.
In related news, Director Peter M. Chang bought 115,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $2,300,000.00. 23.92% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in RBB Bancorp by 27,600.0% during the second quarter. Bank of Montreal Can now owns 1,385 shares of the company’s stock valued at $27,000 after acquiring an additional 1,380 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of RBB Bancorp by 435.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,554 shares of the company’s stock worth $30,000 after purchasing an additional 1,264 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of RBB Bancorp by 31.6% in the second quarter. JPMorgan Chase & Co. now owns 4,459 shares of the company’s stock worth $89,000 after purchasing an additional 1,071 shares during the last quarter. Strs Ohio increased its holdings in shares of RBB Bancorp by 680.0% in the third quarter. Strs Ohio now owns 7,800 shares of the company’s stock worth $153,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of RBB Bancorp in the third quarter worth about $241,000. 30.88% of the stock is currently owned by institutional investors and hedge funds.
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 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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