GSA Capital Partners LLP Makes New $928,000 Investment in RBB Bancorp $RBB

GSA Capital Partners LLP bought a new stake in shares of RBB Bancorp (NASDAQ:RBB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 33,854 shares of the company’s stock, valued at approximately $928,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of RBB Bancorp by 20.4% in the first quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock worth $268,000 after buying an additional 2,762 shares in the last quarter. Empowered Funds LLC grew its stake in RBB Bancorp by 8.2% during the first quarter. Empowered Funds LLC now owns 60,331 shares of the company’s stock valued at $995,000 after acquiring an additional 4,571 shares in the last quarter. Jane Street Group LLC grew its stake in RBB Bancorp by 75.9% during the first quarter. Jane Street Group LLC now owns 28,823 shares of the company’s stock valued at $476,000 after acquiring an additional 12,437 shares in the last quarter. Geode Capital Management LLC increased its holdings in RBB Bancorp by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 362,884 shares of the company’s stock worth $6,246,000 after acquiring an additional 14,751 shares during the period. Finally, First Trust Advisors LP increased its holdings in RBB Bancorp by 5.0% during the 2nd quarter. First Trust Advisors LP now owns 11,647 shares of the company’s stock worth $200,000 after acquiring an additional 555 shares during the period. 40.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RBB Bancorp

In related news, EVP Gary Fan sold 2,368 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.01, for a total value of $56,855.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Richard Morris sold 1,946 shares of RBB Bancorp stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $23.99, for a total value of $46,684.54. Following the sale, the director directly owned 43,422 shares of the company’s stock, valued at approximately $1,041,693.78. This trade represents a 4.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.78% of the stock is currently owned by insiders.

RBB Bancorp Stock Down 0.3%

Shares of NASDAQ RBB opened at $27.25 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $26.56 and a 200-day moving average of $23.92. The firm has a market capitalization of $461.07 million, a price-to-earnings ratio of 11.21 and a beta of 1.03. RBB Bancorp has a 12 month low of $16.74 and a 12 month high of $28.24.

RBB Bancorp (NASDAQ:RBB) last announced its earnings results on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. RBB Bancorp had a net margin of 17.26% and a return on equity of 7.94%. The business had revenue of $33.10 million for the quarter, compared to the consensus estimate of $33.17 million. Sell-side analysts expect that RBB Bancorp will post 2.37 earnings per share for the current fiscal year.

RBB Bancorp declared that its Board of Directors has approved a share repurchase plan on Monday, June 15th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

RBB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st were given a dividend of $0.16 per share. The ex-dividend date was Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 2.3%. RBB Bancorp’s dividend payout ratio (DPR) is 26.34%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RBB. Stephens increased their target price on shares of RBB Bancorp from $26.00 to $29.00 and gave the stock a “positive” rating in a research note on Thursday, July 23rd. Hovde Group upgraded shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $26.00 to $29.00 in a research report on Tuesday, June 16th. Weiss Ratings raised shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Finally, Zacks Research downgraded RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

About RBB Bancorp

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.