North Reef Capital Management LP Acquires Shares of 64,150 RBB Bancorp $RBB

North Reef Capital Management LP acquired a new position in shares of RBB Bancorp (NASDAQ:RBB) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 64,150 shares of the company’s stock, valued at approximately $1,371,000.

A number of other institutional investors also recently made changes to their positions in RBB. Sei Investments Co. purchased a new position in shares of RBB Bancorp during the 1st quarter valued at approximately $356,000. PNC Financial Services Group Inc. increased its stake in shares of RBB Bancorp by 10.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,781 shares of the company’s stock worth $145,000 after buying an additional 636 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in RBB Bancorp by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 830,214 shares of the company’s stock valued at $17,742,000 after acquiring an additional 16,695 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in RBB Bancorp by 48.2% in the first quarter. Hillsdale Investment Management Inc. now owns 221,400 shares of the company’s stock valued at $4,731,000 after acquiring an additional 72,000 shares in the last quarter. Finally, Strs Ohio boosted its stake in RBB Bancorp by 4.6% during the 1st quarter. Strs Ohio now owns 27,400 shares of the company’s stock valued at $586,000 after acquiring an additional 1,200 shares during the last quarter. 40.14% of the stock is owned by institutional investors and hedge funds.

RBB Bancorp Stock Performance

RBB stock opened at $26.28 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The firm has a market cap of $445.18 million, a P/E ratio of 10.81 and a beta of 1.03. RBB Bancorp has a 12-month low of $16.74 and a 12-month high of $28.24. The stock’s 50 day simple moving average is $25.53 and its 200 day simple moving average is $23.25.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $33.10 million for the quarter, compared to analysts’ expectations of $33.17 million. RBB Bancorp had a return on equity of 7.99% and a net margin of 17.26%. As a group, equities research analysts predict that RBB Bancorp will post 2.37 EPS for the current year.

RBB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, July 31st. RBB Bancorp’s dividend payout ratio (DPR) is presently 26.34%.

RBB Bancorp declared that its board has approved a stock buyback plan on Monday, June 15th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stephens raised their price objective on shares of RBB Bancorp from $26.00 to $29.00 and gave the stock a “positive” rating in a report on Thursday. Hovde Group upgraded shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $26.00 to $29.00 in a research note on Tuesday, June 16th. Weiss Ratings raised shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Finally, Zacks Research downgraded RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Insider Transactions at RBB Bancorp

In related news, EVP Gary Fan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $24.04, for a total transaction of $144,240.00. Following the completion of the sale, the executive vice president owned 1,437 shares of the company’s stock, valued at $34,545.48. This represents a 80.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Richard Morris sold 4,500 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.90, for a total transaction of $107,550.00. Following the sale, the director owned 43,422 shares in the company, valued at approximately $1,037,785.80. This trade represents a 9.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 24,814 shares of company stock worth $597,630. 6.78% of the stock is currently owned by insiders.

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.