RBB Bancorp (NASDAQ:RBB) Sees Large Growth in Short Interest
RBB Bancorp (NASDAQ:RBB) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 251,400 shares, a growth of 11.8% from the June 30th total of 224,800 shares. Based on an average daily volume of 70,800 shares, the short-interest ratio is currently 3.6 days. Currently, 1.7% of the shares of the company are sold short.
In other RBB Bancorp news, Director James Kao purchased 2,000 shares of RBB Bancorp stock in a transaction that occurred on Friday, June 12th. The stock was 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 owns 408,876 shares of the company’s stock, valued at approximately $5,348,098.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 11,000 shares of company stock valued at $133,560 in the last quarter. 20.66% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in RBB. Renaissance Technologies LLC increased its stake in RBB Bancorp by 236.6% in 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 during the last quarter. Bank of New York Mellon Corp grew its stake 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 worth $3,076,000 after buying an additional 64,194 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of RBB Bancorp during the first quarter worth $648,000. JPMorgan Chase & Co. grew its stake in shares of RBB Bancorp by 111.7% during the first quarter. JPMorgan Chase & Co. now owns 78,871 shares of the company’s stock worth $1,083,000 after buying an additional 41,623 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of RBB Bancorp by 16.7% during the fourth quarter. Geode Capital Management LLC now owns 194,319 shares of the company’s stock worth $4,113,000 after buying an additional 27,870 shares during the last quarter. 31.74% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:RBB traded down $0.21 during mid-day trading on Friday, reaching $12.80. The stock had a trading volume of 67,137 shares, compared to its average volume of 49,437. The stock has a 50-day simple moving average of $13.09 and a two-hundred day simple moving average of $14.89. The stock has a market capitalization of $255.42 million, a PE ratio of 8.15 and a beta of 0.95. 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 12 month low of $10.61 and a 12 month high of $21.90.
RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The business 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%. Equities analysts expect that RBB Bancorp will post 1.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.24 dividend on an annualized basis and a yield of 1.88%. RBB Bancorp’s dividend payout ratio (DPR) is 12.31%.
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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