Rhino Investment Partners Inc Has $7.24 Million Holdings in RBB Bancorp $RBB

Rhino Investment Partners Inc increased its position in shares of RBB Bancorp (NASDAQ:RBB) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 338,810 shares of the company’s stock after purchasing an additional 29,070 shares during the period. RBB Bancorp comprises about 2.0% of Rhino Investment Partners Inc’s investment portfolio, making the stock its 19th largest position. Rhino Investment Partners Inc owned about 2.00% of RBB Bancorp worth $7,240,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RBB. Empowered Funds LLC lifted its position in RBB Bancorp by 23.5% in the first quarter. Empowered Funds LLC now owns 101,463 shares of the company’s stock worth $2,168,000 after purchasing an additional 19,279 shares during the period. Quantinno Capital Management LP increased its holdings in RBB Bancorp by 47.9% in the 1st quarter. Quantinno Capital Management LP now owns 66,144 shares of the company’s stock valued at $1,413,000 after buying an additional 21,434 shares during the period. North Reef Capital Management LP acquired a new position in shares of RBB Bancorp in the 1st quarter valued at $1,371,000. Sei Investments Co. bought a new position in shares of RBB Bancorp during the 1st quarter worth about $356,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of RBB Bancorp by 10.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,781 shares of the company’s stock worth $145,000 after acquiring an additional 636 shares during the period. 40.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RBB. Zacks Research lowered shares of RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. 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. Hovde Group upgraded shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $26.00 to $29.00 in a research note on Tuesday, June 16th. Finally, Stephens lifted their price objective on RBB Bancorp from $26.00 to $29.00 and gave the company a “positive” rating in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, RBB Bancorp currently has an average rating of “Moderate Buy” and an average price target of $25.50.

Insider Buying and Selling

In other RBB Bancorp news, Director Chuang I. Lin sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $24.23, for a total transaction of $242,300.00. Following the sale, the director directly owned 51,347 shares of the company’s stock, valued at approximately $1,244,137.81. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gary Fan sold 2,368 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $24.01, for a total transaction of $56,855.68. The SEC filing for this sale provides additional information. Insiders sold 18,814 shares of company stock worth $453,390 in the last quarter. 6.78% of the stock is owned by corporate insiders.

RBB Bancorp Stock Performance

RBB Bancorp stock opened at $26.56 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a fifty day moving average price of $25.66 and a two-hundred day moving average price of $23.35. RBB Bancorp has a 52-week low of $16.74 and a 52-week high of $28.24. The firm has a market capitalization of $449.93 million, a P/E ratio of 10.93 and a beta of 1.03.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. RBB Bancorp had a return on equity of 7.99% and a net margin of 17.26%.The company had revenue of $33.10 million during the quarter, compared to analysts’ expectations of $33.17 million. As a group, analysts anticipate that RBB Bancorp will post 2.37 EPS for the current fiscal year.

RBB Bancorp Announces Dividend

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

RBB Bancorp declared that its Board of Directors has approved a stock repurchase 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. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

RBB Bancorp 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.