Hillsdale Investment Management Inc. increased its position in RBB Bancorp (NASDAQ:RBB – Free Report) by 48.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 221,400 shares of the company’s stock after purchasing an additional 72,000 shares during the period. Hillsdale Investment Management Inc. owned approximately 1.30% of RBB Bancorp worth $4,731,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Torren Management LLC bought a new stake in shares of RBB Bancorp in the 4th quarter worth $28,000. BNP Paribas Financial Markets increased its stake in shares of RBB Bancorp by 84.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock worth $31,000 after purchasing an additional 835 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in RBB Bancorp in the fourth quarter worth $34,000. SG Americas Securities LLC purchased a new stake in RBB Bancorp in the 4th quarter worth about $112,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of RBB Bancorp by 17.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock worth $124,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 40.14% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on RBB. Weiss Ratings upgraded RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Zacks Research upgraded RBB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Hovde Group upgraded shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $26.00 to $29.00 in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, RBB Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $24.33.
RBB Bancorp Stock Performance
Shares of RBB stock opened at $27.09 on Wednesday. The stock has a fifty day moving average of $25.02 and a 200 day moving average of $22.93. RBB Bancorp has a 52 week low of $16.74 and a 52 week high of $28.20. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $458.90 million, a price-to-earnings ratio of 11.48 and a beta of 1.03.
RBB Bancorp (NASDAQ:RBB – Get Free Report) last released its quarterly earnings results on Monday, April 20th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.21. RBB Bancorp had a net margin of 16.76% and a return on equity of 7.85%. The company had revenue of $34.75 million during the quarter, compared to the consensus estimate of $32.38 million. As a group, research analysts expect that RBB Bancorp will post 2.36 earnings per share for the current year.
RBB Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. RBB Bancorp’s dividend payout ratio is currently 27.12%.
RBB Bancorp announced that its Board of Directors has approved a share buyback plan on Monday, June 15th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Insider Transactions at RBB Bancorp
In other news, Director Chuang I. Lin sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $24.23, for a total value of $242,300.00. Following the completion of the transaction, the director owned 51,347 shares in the company, valued at $1,244,137.81. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Richard Morris sold 4,500 shares of RBB Bancorp stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $23.90, for a total value of $107,550.00. Following the sale, the director owned 43,422 shares in the company, valued at $1,037,785.80. This represents a 9.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 24,814 shares of company stock valued at $597,630. Corporate insiders own 6.78% of the company’s stock.
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.
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