97,894 Shares in RBB Bancorp $RBB Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 97,894 shares of RBB Bancorp in the second quarter, valued at approximately $2.68 million and representing a 0.58% stake. Institutional investors collectively own 40.14% of the company.
• RBB Bancorp reported quarterly EPS of $0.59, beating estimates by $0.05, while revenue totaled $33.10 million. The bank also pays a $0.16 quarterly dividend and authorized repurchases of up to 1 million shares.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $25.50; however, shares recently traded at $27.07, near their 52-week high.

Bank of New York Mellon Corp acquired a new stake in RBB Bancorp (NASDAQ:RBB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 97,894 shares of the company's stock, valued at approximately $2,684,000. Bank of New York Mellon Corp owned 0.58% of RBB Bancorp as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in RBB Bancorp by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 830,214 shares of the company's stock worth $17,742,000 after buying an additional 16,695 shares during the period. Geode Capital Management LLC raised its position in shares of RBB Bancorp by 4.2% during the second quarter. Geode Capital Management LLC now owns 362,884 shares of the company's stock worth $6,246,000 after acquiring an additional 14,751 shares during the last quarter. Rhino Investment Partners Inc lifted its stake in shares of RBB Bancorp by 9.4% in the first quarter. Rhino Investment Partners Inc now owns 338,810 shares of the company's stock worth $7,240,000 after acquiring an additional 29,070 shares during the period. State Street Corp lifted its stake in shares of RBB Bancorp by 0.5% in the fourth quarter. State Street Corp now owns 320,706 shares of the company's stock worth $6,619,000 after acquiring an additional 1,550 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in RBB Bancorp by 48.2% in the first quarter. Hillsdale Investment Management Inc. now owns 221,400 shares of the company's stock valued at $4,731,000 after acquiring an additional 72,000 shares during the last quarter. 40.14% of the stock is owned by institutional investors.

RBB Bancorp Stock Performance

Shares of RBB stock opened at $27.07 on Tuesday. 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 quick ratio of 1.07 and a current ratio of 1.07. The stock has a 50 day simple moving average of $26.79 and a two-hundred day simple moving average of $24.39. The company has a market cap of $458.02 million, a P/E ratio of 11.14 and a beta of 1.02.

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

RBB Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Friday, July 31st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 annualized dividend and a yield of 2.4%. RBB Bancorp's dividend payout ratio is currently 26.34%.

RBB Bancorp announced that its board has authorized a stock repurchase plan on Monday, June 15th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on RBB. 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. Stephens boosted their price target on shares of RBB Bancorp from $26.00 to $29.00 and gave the stock a "positive" rating in a research report on Thursday, July 23rd. Zacks Research lowered shares of RBB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Finally, Hovde Group upgraded shares of RBB Bancorp from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $26.00 to $29.00 in a research report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.50.

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.

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