Vanguard Group Inc. Grows Stake in RBB Bancorp (NASDAQ:RBB)

Vanguard Group Inc. lifted its stake in shares of RBB Bancorp (NASDAQ:RBB) by 0.6% in the 1st quarter, HoldingsChannel reports. The firm owned 742,411 shares of the company’s stock after buying an additional 4,464 shares during the quarter. Vanguard Group Inc.’s holdings in RBB Bancorp were worth $13,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. AJOVista LLC purchased a new stake in RBB Bancorp in the fourth quarter worth $59,000. BNP Paribas Financial Markets grew its stake 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 worth $148,000 after acquiring an additional 3,892 shares during the period. New York State Common Retirement Fund increased its holdings in RBB Bancorp by 101.4% in the 4th quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock worth $170,000 after acquiring an additional 4,503 shares during the last quarter. Quadrature Capital Ltd raised its stake in RBB Bancorp by 20.3% in the 4th quarter. Quadrature Capital Ltd now owns 13,004 shares of the company’s stock valued at $248,000 after acquiring an additional 2,191 shares during the period. Finally, Empowered Funds LLC lifted its holdings in RBB Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 46,818 shares of the company’s stock valued at $843,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors own 40.14% of the company’s stock.

RBB Bancorp Price Performance

RBB stock opened at $21.43 on Wednesday. The firm has a 50 day moving average of $19.73 and a 200-day moving average of $18.48. The firm has a market capitalization of $395.17 million, a P/E ratio of 9.40 and a beta of 0.96. RBB Bancorp has a 12 month low of $11.15 and a 12 month high of $24.05. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.55.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings results on Monday, July 22nd. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. RBB Bancorp had a net margin of 16.38% and a return on equity of 6.95%. The firm had revenue of $27.45 million during the quarter, compared to analyst estimates of $27.39 million. During the same period in the previous year, the business earned $0.58 EPS. The business’s revenue for the quarter was down 20.2% on a year-over-year basis. As a group, sell-side analysts predict that RBB Bancorp will post 1.59 earnings per share for the current fiscal year.

RBB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st were paid a $0.16 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.64 dividend on an annualized basis and a yield of 2.99%. RBB Bancorp’s dividend payout ratio is currently 28.07%.

Insider Buying and Selling at RBB Bancorp

In related news, Director James Kao acquired 7,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $17.08 per share, for a total transaction of $119,560.00. Following the completion of the transaction, the director now owns 548,511 shares in the company, valued at $9,368,567.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RBB shares. Hovde Group reiterated a “market perform” rating and issued a $20.00 target price on shares of RBB Bancorp in a research note on Monday, July 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $22.00 price objective (up from $20.00) on shares of RBB Bancorp in a research note on Thursday, April 25th. Piper Sandler boosted their target price on shares of RBB Bancorp from $21.00 to $21.50 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $20.00 price target on shares of RBB Bancorp in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.88.

RBB Bancorp Company Profile

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.