Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 103,297 RBB Bancorp $RBB

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of RBB Bancorp (NASDAQ:RBB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 103,297 shares of the company’s stock, valued at approximately $2,832,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of RBB Bancorp by 20.4% in the first quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock worth $268,000 after acquiring an additional 2,762 shares in the last quarter. Empowered Funds LLC boosted its holdings in RBB Bancorp by 8.2% in the first quarter. Empowered Funds LLC now owns 60,331 shares of the company’s stock valued at $995,000 after purchasing an additional 4,571 shares during the last quarter. Jane Street Group LLC grew its stake in RBB Bancorp by 75.9% during the 1st quarter. Jane Street Group LLC now owns 28,823 shares of the company’s stock valued at $476,000 after purchasing an additional 12,437 shares in the last quarter. Geode Capital Management LLC grew its stake in RBB Bancorp by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 362,884 shares of the company’s stock valued at $6,246,000 after purchasing an additional 14,751 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in RBB Bancorp by 5.0% during the 2nd quarter. First Trust Advisors LP now owns 11,647 shares of the company’s stock worth $200,000 after purchasing an additional 555 shares during the last quarter. 40.14% of the stock is owned by hedge funds and other institutional investors.

RBB Bancorp Stock Up 0.1%

NASDAQ:RBB opened at $26.27 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $444.49 million, a price-to-earnings ratio of 10.81 and a beta of 1.03. RBB Bancorp has a one year low of $16.74 and a one year high of $28.24. The stock has a 50-day simple moving average of $26.78 and a 200 day simple moving average of $24.19.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. RBB Bancorp had a return on equity of 7.94% and a net margin of 17.26%.The firm had revenue of $33.10 million for the quarter, compared to analysts’ expectations of $33.17 million. Sell-side analysts predict that RBB Bancorp will post 2.37 EPS for the current fiscal year.

RBB Bancorp declared that its board has initiated a share buyback program on Monday, June 15th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

RBB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Friday, July 31st were paid a dividend of $0.16 per share. The ex-dividend date was Friday, July 31st. This represents a $0.64 annualized dividend and a yield of 2.4%. RBB Bancorp’s dividend payout ratio (DPR) is 26.34%.

Insider Transactions at RBB Bancorp

In other RBB Bancorp news, Director David Richard Morris sold 1,946 shares of RBB Bancorp stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $23.99, for a total value of $46,684.54. Following the completion of the transaction, the director owned 43,422 shares of the company’s stock, valued at $1,041,693.78. The trade was a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 6.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RBB has been the topic of a number of recent analyst reports. Hovde Group raised RBB Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $26.00 to $29.00 in a research report on Tuesday, June 16th. Weiss Ratings raised shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Stephens lifted their price target on shares of RBB Bancorp from $26.00 to $29.00 and gave the stock a “positive” rating in a research note on Thursday, July 23rd. Finally, Zacks Research cut shares of RBB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

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.