RBB Bancorp (NASDAQ:RBB) Short Interest Up 35.8% in June
RBB Bancorp (NASDAQ:RBB) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 124,500 shares, a growth of 35.8% from the May 30th total of 91,700 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 39,100 shares, the short-interest ratio is presently 3.2 days.
Shares of RBB Bancorp stock traded up $0.08 on Friday, reaching $19.23. 68,661 shares of the company were exchanged, compared to its average volume of 46,473. RBB Bancorp has a 1-year low of $17.03 and a 1-year high of $32.85. The company has a market capitalization of $385.95 million, a P/E ratio of 9.03 and a beta of 1.09. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.08 and a current ratio of 1.25. The stock’s 50 day moving average is $19.31.
RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.04). The business had revenue of $30.11 million during the quarter, compared to analyst estimates of $31.36 million. RBB Bancorp had a net margin of 28.46% and a return on equity of 11.28%. On average, equities research analysts expect that RBB Bancorp will post 2.1 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in RBB. Context BH Capital Management LP boosted its holdings in RBB Bancorp by 3,014.1% in the fourth quarter. Context BH Capital Management LP now owns 280,671 shares of the company’s stock valued at $4,931,000 after purchasing an additional 271,658 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in RBB Bancorp by 123.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 100,207 shares of the company’s stock valued at $1,761,000 after purchasing an additional 55,461 shares in the last quarter. BlackRock Inc. boosted its holdings in RBB Bancorp by 5.3% in the fourth quarter. BlackRock Inc. now owns 731,627 shares of the company’s stock valued at $12,855,000 after purchasing an additional 36,703 shares in the last quarter. Martingale Asset Management L P acquired a new position in RBB Bancorp in the fourth quarter valued at approximately $354,000. Finally, Geode Capital Management LLC boosted its holdings in RBB Bancorp by 17.1% in the fourth quarter. Geode Capital Management LLC now owns 122,667 shares of the company’s stock valued at $2,155,000 after purchasing an additional 17,882 shares in the last quarter. 29.97% of the stock is owned by hedge funds and other institutional investors.
RBB has been the subject of a number of analyst reports. Zacks Investment Research raised Icon from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a research report on Thursday, May 30th. TheStreet raised Twilio from a “d” rating to a “c” rating in a research report on Monday, June 24th. FIG Partners reissued an “outperform” rating on shares of RBB Bancorp in a research report on Friday, April 12th. Finally, Sandler O’Neill downgraded BankUnited from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. RBB Bancorp has an average rating of “Hold” and a consensus price target of $26.50.
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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