Azora Capital LP Takes $638,000 Position in RBB Bancorp $RBB

Azora Capital LP bought a new stake in shares of RBB Bancorp (NASDAQ:RBB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 30,913 shares of the company’s stock, valued at approximately $638,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of RBB Bancorp by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 813,519 shares of the company’s stock valued at $16,791,000 after buying an additional 4,999 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 14,751 shares in the last quarter. State Street Corp lifted its position in shares of RBB Bancorp by 0.5% during the 4th quarter. State Street Corp now owns 320,706 shares of the company’s stock valued at $6,619,000 after buying an additional 1,550 shares in the last quarter. Rhino Investment Partners Inc lifted its position in shares of RBB Bancorp by 3.4% during the 3rd quarter. Rhino Investment Partners Inc now owns 253,190 shares of the company’s stock valued at $4,750,000 after buying an additional 8,317 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of RBB Bancorp by 80.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 200,190 shares of the company’s stock valued at $3,756,000 after buying an additional 89,035 shares in the last quarter. Hedge funds and other institutional investors own 40.14% of the company’s stock.

Insiders Place Their Bets

In other RBB Bancorp news, EVP Gary Fan sold 2,368 shares of RBB Bancorp stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.01, for a total transaction of $56,855.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David Richard Morris sold 1,946 shares of RBB Bancorp stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $23.99, for a total transaction of $46,684.54. Following the sale, the director directly owned 43,422 shares in the company, valued at approximately $1,041,693.78. This trade represents a 4.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,814 shares of company stock valued at $597,630 in the last 90 days. 6.78% of the stock is owned by insiders.

RBB Bancorp Trading Down 2.9%

Shares of RBB opened at $24.96 on Thursday. RBB Bancorp has a 52-week low of $15.94 and a 52-week high of $26.12. 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’s fifty day moving average is $23.71 and its two-hundred day moving average is $22.23. The stock has a market cap of $422.82 million, a PE ratio of 10.58 and a beta of 1.05.

RBB Bancorp (NASDAQ:RBB) last announced its earnings results on Monday, April 20th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $32.38 million. Research analysts forecast that RBB Bancorp will post 2.35 earnings per share for the current fiscal year.

RBB Bancorp announced that its Board of Directors has initiated a stock repurchase program 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. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

RBB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, April 30th. RBB Bancorp’s payout ratio is 27.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RBB shares. 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 RBB Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $26.00 to $29.00 in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

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.