45,829 Shares in RBB Bancorp $RBB Bought by Walleye Capital LLC

Key Points

• Walleye Capital LLC acquired 45,829 shares of RBB Bancorp worth approximately $1.26 million, while hedge funds and other institutional investors collectively own 40.14% of the company.
• RBB Bancorp reported quarterly EPS of $0.59, exceeding analyst expectations of $0.54, and authorized a repurchase of up to 1 million shares. The company also pays a quarterly dividend of $0.16, equivalent to a 2.3% annual yield.
• Analyst sentiment is moderately bullish, with an average rating of “Moderate Buy” and a consensus price target of $25.50; however, the stock recently opened at $27.59, above that target.

Walleye Capital LLC bought a new position in shares of RBB Bancorp (NASDAQ:RBB - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 45,829 shares of the company's stock, valued at approximately $1,256,000. Walleye Capital LLC owned 0.27% of RBB Bancorp as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Torren Management LLC acquired a new position in shares of RBB Bancorp in the 4th quarter valued at $28,000. BNP Paribas Financial Markets raised its holdings in RBB Bancorp by 84.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company's stock worth $31,000 after buying an additional 835 shares during the period. CANADA LIFE ASSURANCE Co acquired a new stake in RBB Bancorp during the 4th quarter worth about $34,000. SG Americas Securities LLC purchased a new stake in RBB Bancorp during the fourth quarter valued at about $112,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of RBB Bancorp by 17.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company's stock worth $124,000 after acquiring an additional 1,000 shares in the last quarter. 40.14% of the stock is owned by hedge funds and other institutional investors.

RBB Bancorp Price Performance

Shares of RBB opened at $27.59 on Friday. The company has a market capitalization of $466.71 million, a price-to-earnings ratio of 11.35 and a beta of 1.03. RBB Bancorp has a fifty-two week low of $16.74 and a fifty-two week high of $28.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.07 and a quick ratio of 1.06. The business's 50-day moving average is $26.44 and its 200-day moving average is $23.82.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. The business had revenue of $33.10 million during the quarter, compared to analyst estimates of $33.17 million. RBB Bancorp had a net margin of 17.26% and a return on equity of 7.94%. Equities research analysts expect that RBB Bancorp will post 2.37 EPS for the current fiscal year.

RBB Bancorp declared that its Board of Directors has approved a share repurchase plan on Monday, June 15th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

RBB Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Friday, July 31st were given a $0.16 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.64 dividend on an annualized basis and a yield of 2.3%. RBB Bancorp's dividend payout ratio is presently 26.34%.

Insider Buying and Selling

In other news, EVP Gary Fan sold 2,368 shares of the business's 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Richard Morris sold 1,946 shares of the company's 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 completion of the transaction, the director directly owned 43,422 shares in the company, valued at $1,041,693.78. This trade represents a 4.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of RBB Bancorp from a "strong-buy" rating to a "hold" rating in a 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 note on Tuesday, July 21st. Hovde Group upgraded shares of RBB Bancorp from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $26.00 to $29.00 in a research report on Tuesday, June 16th. Finally, Stephens boosted their target price on shares of RBB Bancorp from $26.00 to $29.00 and gave the company a "positive" rating in a research note on Thursday, July 23rd. Three 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, the company currently has an average rating of "Moderate Buy" and a consensus 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.

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