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Rbb Bancorp  (RBB)
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 

RBB Bancorp reports a 15.115% revenue decline in Q4 20232.

Financial performance dips for RBB Bancorp in the fourth quarter


Published Mar 13 2024 / Modified Mar 13 2024
CSIMarket Team / CSIMarket.com


PNC_bank_ATMs_By_myself_ (UserPiotrus)_(Own_work)[CC-BY-SA-3.0_(http_creativecommons.org_licenses_by-sa_3.0)]_via_Wikimedia_CommonsThe stock market is always a rollercoaster ride for investors, with companies constantly revealing their financial performance through quarterly reports.
One such company that recently disclosed its fourth quarter of 2023 financial results is RBB Bancorp.
The company reported a soft top and bottom-line, with a decline in both income per share and revenue year on year.

In the fourth quarter of 2023, RBB Bancorp's income per share dropped by -31.36% to $0.64 from $0.93 in the comparable period in 2022.
Revenue also fell by -15.115% to $33.49 million from $39.46 million in the previous year.
Despite this dip, it is essential to note that from preceding times, RBB Bancorp's EPS saw a significant increase of 42.05% from $0.45 per share, and revenue improved by 15.656% from $28.96 million.

However, the bottom-line of $12.073 million in the fourth quarter of 2023 fell by -31.33% from $17.581 million in the corresponding period in 2022.
Furthermore, RBB Bancorp's operating margin mitigated to 51.06%, and the net margin shrank to 36.05% in the fourth quarter of 2023.
Operating earnings also fell by -32.41% to $17.102 million, squeezing the company's operating margin from 64.12% in the fourth quarter of 2022.

Looking at the company's overall financial period in 2023, RBB disclosed revenue of $130.94 million and a bottom-line of $42.47 million.
The regional bank company mentioned that the bottom-line deteriorated by -32.73% to $2.24 per share from $3.33 in the previous financial period.
Additionally, revenue fell by -15.99% from $155.87 million a year prior.

Despite the challenging financial results, RBB Bancorp announced a stock repurchase program to enhance shareholder value.
This move, authorized by the Company's Board of Directors, allows RBB Bancorp to repurchase up to 1,000,000 shares of its common stock within the next five years.
This stock repurchase program is seen as a positive signal by investors, reflecting management's confidence in the company's financial strength and future prospects.

In conclusion, while RBB Bancorp reported a decline in its financial performance for the fourth quarter of 2023, the company's stock repurchase program signals its commitment to enhancing shareholder value and confidence in its future.
Investors will be keen to see how RBB Bancorp navigates through these challenging times and improves its financial performance in the coming quarters.



Rbb Bancorp's Dividend Pay out

Rbb Bancorp's Income per Employee





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