Strs Ohio Makes New $482,000 Investment in RBB Bancorp $RBB

Key Points

• Strs Ohio has acquired a new stake in RBB Bancorp, purchasing 29,200 shares valued at approximately $482,000, bringing its ownership to about 0.16% of the company.
• RBB Bancorp's stock has recently received a rating upgrade from "sell" to "hold," with Keefe, Bruyette & Woods increasing the target price from $19.00 to $21.00.
• The company announced a quarterly dividend payment of $0.16 per share, representing a dividend yield of 3.3%, along with a stock buyback plan totaling $18.00 million.

Strs Ohio bought a new position in shares of RBB Bancorp (NASDAQ:RBB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,200 shares of the company's stock, valued at approximately $482,000. Strs Ohio owned approximately 0.16% of RBB Bancorp at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in RBB Bancorp in the first quarter valued at $873,000. American Century Companies Inc. boosted its stake in RBB Bancorp by 8.7% in the first quarter. American Century Companies Inc. now owns 373,405 shares of the company's stock valued at $6,161,000 after acquiring an additional 29,761 shares in the last quarter. Squarepoint Ops LLC acquired a new position in RBB Bancorp in the fourth quarter valued at $215,000. FJ Capital Management LLC boosted its stake in RBB Bancorp by 8.6% in the first quarter. FJ Capital Management LLC now owns 1,756,006 shares of the company's stock valued at $28,974,000 after acquiring an additional 139,163 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in RBB Bancorp by 22.6% in the fourth quarter. Bank of America Corp DE now owns 18,749 shares of the company's stock valued at $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

NASDAQ RBB traded up $0.01 during trading hours on Monday, hitting $19.46. 44,719 shares of the stock were exchanged, compared to its average volume of 43,692. The company has a market cap of $335.69 million, a price-to-earnings ratio of 15.08 and a beta of 1.13. RBB Bancorp has a 12-month low of $14.40 and a 12-month high of $25.30. The stock has a 50-day moving average of $19.28 and a 200 day moving average of $17.54. 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 posted its quarterly earnings results 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. The firm had revenue of $35.81 million during 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 earnings per share for the current year.

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

RBB Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Thursday, July 31st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, July 31st. RBB Bancorp's dividend payout ratio is currently 49.61%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upped 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 note on Wednesday, July 23rd. Wall Street Zen upgraded shares of RBB Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.