Nuveen LLC Acquires Shares of 52,893 RBB Bancorp $RBB

Key Points

• Nuveen LLC has acquired a new stake in RBB Bancorp, purchasing 52,893 shares valued at approximately $873,000.
• Wall Street analysts have recently upgraded RBB Bancorp's stock rating, with a consensus price target of $21.33 and a majority of ratings holding a "Hold" status.
• RBB Bancorp announced a quarterly dividend of $0.16 per share, representing an annual yield of 3.2% and a payout ratio of 49.61%.

Nuveen LLC bought a new position in RBB Bancorp (NASDAQ:RBB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 52,893 shares of the company's stock, valued at approximately $873,000. Nuveen LLC owned 0.30% of RBB Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of RBB Bancorp by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 735,923 shares of the company's stock worth $15,079,000 after buying an additional 13,824 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of RBB Bancorp by 2.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 121,643 shares of the company's stock worth $2,492,000 after acquiring an additional 2,662 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of RBB Bancorp by 7.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,335 shares of the company's stock worth $732,000 after acquiring an additional 2,995 shares in the last quarter. Barclays PLC raised its holdings in shares of RBB Bancorp by 14.1% during the fourth quarter. Barclays PLC now owns 24,497 shares of the company's stock worth $502,000 after acquiring an additional 3,020 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of RBB Bancorp by 22.6% during the fourth quarter. Bank of America Corp DE now owns 18,749 shares of the company's stock worth $384,000 after acquiring an additional 3,462 shares in the last quarter. Institutional investors and hedge funds own 40.14% of the company's stock.

RBB Bancorp Stock Performance

Shares of RBB Bancorp stock traded down $0.08 during trading on Friday, reaching $19.91. The company's stock had a trading volume of 43,798 shares, compared to its average volume of 46,486. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07. The business's fifty day moving average price is $19.04 and its 200-day moving average price is $17.39. The firm has a market cap of $343.45 million, a price-to-earnings ratio of 15.43 and a beta of 1.13. RBB Bancorp has a one year low of $14.40 and a one year high of $25.30.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last released 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. RBB Bancorp had a return on equity of 4.50% and a net margin of 9.80%.The business had revenue of $35.81 million for the quarter, compared to the consensus estimate of $29.60 million. As a group, equities research analysts predict that RBB Bancorp will post 1.63 earnings per share for the current year.

RBB Bancorp Dividend Announcement

The business also recently disclosed 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 yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 31st. RBB Bancorp's payout ratio is presently 49.61%.

RBB Bancorp announced that its board has authorized a share repurchase plan on Thursday, May 29th that authorizes the company to buyback $18.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RBB shares. Keefe, Bruyette & Woods increased their price objective on RBB Bancorp from $19.00 to $21.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded RBB Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $21.33.

About RBB Bancorp

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.