Empowered Funds LLC Buys New Stake in RBB Bancorp $RBB

Key Points

• Empowered Funds LLC acquired 104,534 shares of RBB Bancorp worth approximately $2.9 million, giving it a 0.62% stake. Institutional investors and hedge funds collectively own 40.14% of the company.
• RBB Bancorp reported quarterly EPS of $0.59, exceeding analyst expectations of $0.54, while revenue was $33.1 million. Analysts expect full-year EPS of approximately $2.37.
• The bank approved a buyback of up to 1 million shares and pays a quarterly dividend of $0.16, representing a 2.4% annualized yield. Analysts maintain a “Moderate Buy” consensus with a $25.50 average price target.

Empowered Funds LLC purchased a new position in shares of RBB Bancorp (NASDAQ:RBB - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 104,534 shares of the company's stock, valued at approximately $2,866,000. Empowered Funds LLC owned about 0.62% of RBB Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BNP Paribas Financial Markets raised its position in shares of 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 acquiring an additional 835 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in RBB Bancorp in the fourth quarter valued at approximately $34,000. Legal & General Group Plc acquired a new position in RBB Bancorp in the second quarter valued at approximately $46,000. Public Employees Retirement System of Ohio increased its stake in 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 valued at $124,000 after purchasing an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in RBB Bancorp by 12.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,145 shares of the company's stock valued at $127,000 after purchasing an additional 703 shares during the last quarter. 40.14% of the stock is owned by institutional investors and hedge funds.

RBB Bancorp Stock Up 2.0%

RBB stock opened at $26.40 on Thursday. The company has a market cap of $446.69 million, a price-to-earnings ratio of 10.86 and a beta of 1.02. The company has a fifty day moving average price of $26.79 and a 200 day moving average price of $24.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.07 and a quick ratio of 1.07. RBB Bancorp has a 12 month low of $16.74 and a 12 month high of $28.24.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. The company had revenue of $33.10 million for 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%. Sell-side analysts expect that RBB Bancorp will post 2.37 earnings per share for the current year.

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

RBB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Friday, July 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was 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 currently 26.34%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RBB shares. Weiss Ratings upgraded shares of RBB Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 21st. Hovde Group raised shares of 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, June 16th. 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, Stephens upped their price objective 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.50.

About RBB Bancorp

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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