FJ Capital Management LLC lifted its position in shares of RBB Bancorp (NASDAQ:RBB - Free Report) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,756,006 shares of the company's stock after purchasing an additional 139,163 shares during the period. RBB Bancorp comprises 3.0% of FJ Capital Management LLC's portfolio, making the stock its 9th largest position. FJ Capital Management LLC owned 9.90% of RBB Bancorp worth $28,974,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in RBB. Wells Fargo & Company MN raised its holdings in RBB Bancorp by 25.2% in the fourth quarter. Wells Fargo & Company MN now owns 9,564 shares of the company's stock valued at $196,000 after acquiring an additional 1,925 shares in the last quarter. Barclays PLC raised its holdings in RBB Bancorp by 14.1% in the fourth quarter. Barclays PLC now owns 24,497 shares of the company's stock valued at $502,000 after acquiring an additional 3,020 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in RBB Bancorp by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 735,923 shares of the company's stock valued at $15,079,000 after acquiring an additional 13,824 shares in the last quarter. MetLife Investment Management LLC raised its holdings in RBB Bancorp by 14.9% in the fourth quarter. MetLife Investment Management LLC now owns 10,315 shares of the company's stock valued at $211,000 after acquiring an additional 1,336 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in RBB Bancorp by 195.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the company's stock valued at $36,000 after acquiring an additional 1,149 shares in the last quarter. 40.14% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of RBB Bancorp from $19.00 to $21.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of RBB Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $21.33.
Read Our Latest Report on RBB
RBB Bancorp Stock Performance
Shares of NASDAQ:RBB traded down $0.08 on Friday, reaching $19.91. 43,798 shares of the company's stock were exchanged, compared to its average volume of 46,486. The firm has a market capitalization of $343.45 million, a price-to-earnings ratio of 15.43 and a beta of 1.13. RBB Bancorp has a fifty-two week low of $14.40 and a fifty-two week high of $25.30. The business's 50-day moving average is $19.04 and its two-hundred day moving average is $17.39. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61.
RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its earnings results on Monday, July 21st. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.16. The company had revenue of $35.81 million for the quarter, compared to analysts' expectations of $29.60 million. RBB Bancorp had a net margin of 9.80% and a return on equity of 4.50%. As a group, equities research analysts forecast that RBB Bancorp will post 1.63 EPS for the current year.
RBB Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 31st. RBB Bancorp's dividend payout ratio is 49.61%.
RBB Bancorp declared that its board has approved a stock repurchase program on Thursday, May 29th that permits the company to buyback $18.00 million in shares. This buyback authorization permits the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.
RBB Bancorp Profile
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Free Report)
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.
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