LSV Asset Management Sells 6,500 Shares of RBB Bancorp (NASDAQ:RBB)

LSV Asset Management decreased its holdings in shares of RBB Bancorp (NASDAQ:RBB) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 302,287 shares of the company’s stock after selling 6,500 shares during the period. LSV Asset Management owned approximately 1.64% of RBB Bancorp worth $5,686,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of RBB Bancorp by 21.7% in the 2nd quarter. CWM LLC now owns 4,594 shares of the company’s stock worth $86,000 after buying an additional 818 shares during the last quarter. BNP Paribas Financial Markets increased its stake in RBB Bancorp by 89.6% in the first quarter. BNP Paribas Financial Markets now owns 8,236 shares of the company’s stock valued at $148,000 after acquiring an additional 3,892 shares during the last quarter. New York State Common Retirement Fund raised its position in RBB Bancorp by 101.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock valued at $170,000 after purchasing an additional 4,503 shares in the last quarter. Quadrature Capital Ltd lifted its stake in RBB Bancorp by 20.3% during the fourth quarter. Quadrature Capital Ltd now owns 13,004 shares of the company’s stock worth $248,000 after purchasing an additional 2,191 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of RBB Bancorp by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 25,076 shares of the company’s stock worth $472,000 after purchasing an additional 932 shares in the last quarter. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RBB Bancorp news, Director James Kao bought 7,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $17.08 per share, for a total transaction of $119,560.00. Following the completion of the acquisition, the director now directly owns 548,511 shares in the company, valued at $9,368,567.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.63% of the stock is owned by insiders.

RBB Bancorp Price Performance

Shares of RBB Bancorp stock opened at $21.90 on Thursday. The stock has a market capitalization of $390.04 million, a P/E ratio of 9.61 and a beta of 0.95. RBB Bancorp has a one year low of $11.15 and a one year high of $24.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 1.09. The business’s 50 day simple moving average is $21.58 and its two-hundred day simple moving average is $19.11.

RBB Bancorp (NASDAQ:RBB) last issued its earnings results on Monday, July 22nd. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05. The company had revenue of $27.45 million for the quarter, compared to the consensus estimate of $27.39 million. RBB Bancorp had a net margin of 16.38% and a return on equity of 6.94%. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share. Analysts forecast that RBB Bancorp will post 1.6 EPS for the current year.

RBB Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.92%. RBB Bancorp’s dividend payout ratio is currently 28.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Stephens reissued an “equal weight” rating and set a $20.00 price objective on shares of RBB Bancorp in a report on Tuesday, July 23rd. Piper Sandler boosted their price objective on shares of RBB Bancorp from $21.00 to $21.50 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Hovde Group reaffirmed a “market perform” rating and set a $20.00 target price on shares of RBB Bancorp in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.88.

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.