Rhino Investment Partners Inc Decreases Stock Position in RBB Bancorp $RBB

Key Points

• Rhino Investment Partners Inc sold 248,043 shares of RBB Bancorp, reducing its ownership by 48.3% and ending up with 1.50% stake valued at $4.38 million.
• RBB Bancorp reported $0.52 EPS for the last quarter, exceeding the consensus estimate of $0.36, with revenues of $35.81 million outpacing the expected $29.60 million.
• The company also announced a quarterly dividend of $0.16 per share and initiated a share buyback plan worth $18.00 million, indicating confidence in its stock value.

Rhino Investment Partners Inc reduced its holdings in shares of RBB Bancorp (NASDAQ:RBB - Free Report) by 48.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 265,503 shares of the company's stock after selling 248,043 shares during the period. Rhino Investment Partners Inc owned approximately 1.50% of RBB Bancorp worth $4,381,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in RBB Bancorp by 8.7% during the first quarter. American Century Companies Inc. now owns 373,405 shares of the company's stock worth $6,161,000 after acquiring an additional 29,761 shares during the last quarter. Nuveen LLC acquired a new position in RBB Bancorp during the first quarter worth about $873,000. Connor Clark & Lunn Investment Management Ltd. raised its position in 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 during the last quarter. Squarepoint Ops LLC acquired a new position in RBB Bancorp during the fourth quarter worth about $215,000. Finally, Deutsche Bank AG raised its position in shares of RBB Bancorp by 229.0% in the fourth quarter. Deutsche Bank AG now owns 15,860 shares of the company's stock valued at $325,000 after buying an additional 11,040 shares during the last quarter. Institutional investors and hedge funds own 40.14% of the company's stock.

Wall Street Analyst Weigh In

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

RBB Bancorp Trading Up 0.8%

RBB traded up $0.16 during trading on Tuesday, hitting $20.60. 11,740 shares of the company's stock were exchanged, compared to its average volume of 52,568. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. RBB Bancorp has a 1 year low of $14.40 and a 1 year high of $25.30. The stock has a 50 day moving average price of $18.41 and a 200 day moving average price of $17.23. The firm has a market cap of $355.35 million, a P/E ratio of 15.97 and a beta of 1.09.

RBB Bancorp (NASDAQ:RBB - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.16. RBB Bancorp had a net margin of 9.80% and a return on equity of 4.50%. The company had revenue of $35.81 million during the quarter, compared to the consensus estimate of $29.60 million. As a group, analysts expect that RBB Bancorp will post 1.63 EPS for the current fiscal year.

RBB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, July 31st. RBB Bancorp's payout ratio is currently 49.61%.

RBB Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 29th that permits the company to repurchase $18.00 million in shares. This repurchase authorization permits the company to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

RBB Bancorp Company Profile

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.