Bessemer Group Inc. Sells 4,600 Shares of RBB Bancorp (RBB)
Bessemer Group Inc. lessened its stake in shares of RBB Bancorp (NASDAQ:RBB) by 46.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,300 shares of the company’s stock after selling 4,600 shares during the quarter. Bessemer Group Inc.’s holdings in RBB Bancorp were worth $170,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. American International Group Inc. grew its holdings in RBB Bancorp by 104.6% during the 1st quarter. American International Group Inc. now owns 5,223 shares of the company’s stock valued at $138,000 after buying an additional 2,670 shares in the last quarter. New York State Common Retirement Fund purchased a new position in RBB Bancorp during the 1st quarter valued at about $145,000. Bank of Montreal Can purchased a new position in RBB Bancorp during the 2nd quarter valued at about $157,000. TIAA CREF Investment Management LLC purchased a new position in RBB Bancorp during the 4th quarter valued at about $162,000. Finally, Teachers Advisors LLC grew its holdings in RBB Bancorp by 49.7% during the 4th quarter. Teachers Advisors LLC now owns 6,576 shares of the company’s stock valued at $180,000 after buying an additional 2,182 shares in the last quarter. 28.83% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Yee Phong Thian sold 150,000 shares of the business’s stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $27.50, for a total transaction of $4,125,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vincent Liu sold 31,194 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $27.91, for a total value of $870,624.54. The disclosure for this sale can be found here. Insiders have sold 185,194 shares of company stock valued at $5,112,705 in the last three months. 27.42% of the stock is owned by insiders.
RBB Bancorp (NASDAQ:RBB) last posted its earnings results on Monday, July 23rd. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.05. The business had revenue of $20.62 million during the quarter. RBB Bancorp had a return on equity of 11.90% and a net margin of 31.31%. sell-side analysts expect that RBB Bancorp will post 2.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Monday, July 30th. RBB Bancorp’s payout ratio is 19.78%.
A number of research analysts have weighed in on RBB shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $35.00 target price on shares of RBB Bancorp in a report on Tuesday, April 24th. Stephens reaffirmed a “buy” rating and set a $31.00 target price on shares of RBB Bancorp in a report on Tuesday, April 24th. Finally, Zacks Investment Research raised RBB Bancorp from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Saturday, May 26th.
RBB Bancorp Profile
RBB Bancorp operates as the bank holding company for Royal Business Bank that provides various banking products and services to the Chinese-American communities. Its deposit products include checking, savings, and money market accounts; and certificates of deposits. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.
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