AQR Capital Management LLC Acquires New Shares in RBB Bancorp (NASDAQ:RBB)

AQR Capital Management LLC bought a new position in RBB Bancorp (NASDAQ:RBB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,975 shares of the company’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in RBB Bancorp by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 697,656 shares of the company’s stock worth $13,122,000 after purchasing an additional 53,539 shares in the last quarter. American Century Companies Inc. lifted its position in shares of RBB Bancorp by 21.9% in the second quarter. American Century Companies Inc. now owns 248,501 shares of the company’s stock worth $4,674,000 after buying an additional 44,670 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of RBB Bancorp by 8.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,987 shares of the company’s stock worth $1,636,000 after acquiring an additional 6,781 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of RBB Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 742,411 shares of the company’s stock valued at $13,371,000 after acquiring an additional 4,464 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of RBB Bancorp by 89.6% during the 1st quarter. BNP Paribas Financial Markets now owns 8,236 shares of the company’s stock valued at $148,000 after acquiring an additional 3,892 shares during the last quarter. 40.14% of the stock is owned by hedge funds and other institutional investors.

RBB Bancorp Price Performance

RBB Bancorp stock opened at $24.43 on Friday. The business has a 50 day simple moving average of $22.52 and a 200 day simple moving average of $20.11. RBB Bancorp has a one year low of $11.15 and a one year high of $24.50. The company has a market capitalization of $450.49 million, a PE ratio of 10.71 and a beta of 0.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 1.09.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings data on Monday, July 22nd. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.05. The company had revenue of $27.45 million during the quarter, compared to analyst estimates of $27.39 million. RBB Bancorp had a net margin of 16.38% and a return on equity of 6.94%. The company’s revenue was down 20.2% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. On average, sell-side analysts forecast that RBB Bancorp will post 1.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on RBB. Hovde Group reaffirmed a “market perform” rating and issued a $20.00 target price on shares of RBB Bancorp in a report on Monday, July 15th. Stephens restated an “equal weight” rating and issued a $20.00 price objective on shares of RBB Bancorp in a research note on Tuesday, July 23rd. Finally, Piper Sandler boosted their target price on shares of RBB Bancorp from $21.00 to $21.50 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.88.

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, Korean-American, and other Asian-American communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit.