Hillsdale Investment Management Inc. Purchases Shares of 149,400 RBB Bancorp $RBB

Key Points

• Hillsdale Investment Management opened a new position in RBB Bancorp, buying 149,400 shares worth about $3.08 million in the fourth quarter and ending with roughly 0.88% ownership.
• Analysts turned more positive on RBB, with Zacks upgrading it to Strong Buy, Weiss Ratings moving it to Buy, and Hovde Group raising its price target to $26. The broader consensus rating is now Moderate Buy.
• Insiders sold shares during the quarter, including two directors who reduced their holdings, while RBB also reported better-than-expected earnings and declared a quarterly dividend of $0.16 per share.

Hillsdale Investment Management Inc. purchased a new stake in shares of RBB Bancorp (NASDAQ:RBB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 149,400 shares of the company's stock, valued at approximately $3,084,000. Hillsdale Investment Management Inc. owned about 0.88% of RBB Bancorp at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in RBB Bancorp by 12.9% during the 4th 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. GSA Capital Partners LLP lifted its holdings in RBB Bancorp by 224.7% during the 4th quarter. GSA Capital Partners LLP now owns 39,576 shares of the company's stock valued at $817,000 after purchasing an additional 27,386 shares during the last quarter. Torren Management LLC acquired a new stake in RBB Bancorp during the 4th quarter valued at $28,000. SG Americas Securities LLC acquired a new stake in RBB Bancorp during the 4th quarter valued at $112,000. Finally, JPMorgan Chase & Co. lifted its holdings in RBB Bancorp by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,985 shares of the company's stock valued at $656,000 after purchasing an additional 2,580 shares during the last quarter. Institutional investors and hedge funds own 40.14% of the company's stock.

Analyst Ratings Changes

RBB has been the subject of several research reports. Zacks Research raised RBB Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Weiss Ratings raised RBB Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Finally, Hovde Group raised their price target on RBB Bancorp from $23.00 to $26.00 and gave the company a "market perform" rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.33.

Insider Activity at RBB Bancorp

In related news, Director David Richard Morris sold 4,500 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.90, for a total value of $107,550.00. Following the completion of the transaction, the director owned 43,422 shares of the company's stock, valued at $1,037,785.80. The trade was a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Chuang I. Lin sold 10,000 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $24.23, for a total value of $242,300.00. Following the completion of the transaction, the director directly owned 51,347 shares of the company's stock, valued at approximately $1,244,137.81. This trade represents a 16.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,868 shares of company stock valued at $550,946 over the last quarter. 6.78% of the stock is owned by corporate insiders.

RBB Bancorp Price Performance

RBB opened at $23.92 on Monday. RBB Bancorp has a fifty-two week low of $15.94 and a fifty-two week high of $24.73. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $405.20 million, a P/E ratio of 10.14 and a beta of 1.05. The stock has a fifty day moving average of $22.88 and a 200-day moving average of $21.76.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last posted its earnings results on Monday, April 20th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.21. RBB Bancorp had a return on equity of 7.85% and a net margin of 16.76%.The company had revenue of $34.75 million during the quarter, compared to the consensus estimate of $32.38 million. On average, equities analysts expect that RBB Bancorp will post 2.35 EPS for the current year.

RBB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, April 30th. RBB Bancorp's payout ratio is 27.12%.

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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