Bank of New York Mellon Corp Cuts Stock Position in RBB Bancorp (NASDAQ:RBB)

Bank of New York Mellon Corp cut its holdings in shares of RBB Bancorp (NASDAQ:RBB) by 21.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,759 shares of the company’s stock after selling 16,095 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.33% of RBB Bancorp worth $1,183,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of RBB Bancorp during the 4th quarter valued at $29,000. BNP Paribas Financial Markets raised its stake in RBB Bancorp by 13.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock valued at $86,000 after acquiring an additional 444 shares during the period. SG Americas Securities LLC raised its stake in RBB Bancorp by 20.0% in the 4th quarter. SG Americas Securities LLC now owns 6,992 shares of the company’s stock valued at $143,000 after acquiring an additional 1,167 shares during the period. Franklin Resources Inc. purchased a new stake in RBB Bancorp during the third quarter valued at about $252,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in RBB Bancorp during the third quarter worth about $295,000. 40.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RBB Bancorp

In other news, Director James Kao bought 5,960 shares of RBB Bancorp stock in a transaction on Monday, February 24th. The shares were purchased at an average price of $17.24 per share, for a total transaction of $102,750.40. Following the acquisition, the director now owns 557,823 shares of the company’s stock, valued at approximately $9,616,868.52. The trade was a 1.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 9,924 shares of company stock valued at $171,398 in the last 90 days. Insiders own 6.63% of the company’s stock.

RBB Bancorp Stock Up 2.5 %

Shares of NASDAQ RBB opened at $17.06 on Tuesday. The stock has a market capitalization of $302.47 million, a P/E ratio of 11.68 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 1.11. RBB Bancorp has a one year low of $16.38 and a one year high of $25.30. The firm’s 50 day simple moving average is $18.17 and its two-hundred day simple moving average is $21.11.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings data on Monday, February 3rd. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.12). RBB Bancorp had a return on equity of 5.21% and a net margin of 11.49%. As a group, analysts expect that RBB Bancorp will post 1.63 EPS for the current fiscal year.

RBB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Friday, January 31st. RBB Bancorp’s payout ratio is 43.84%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RBB. Keefe, Bruyette & Woods cut their price target on RBB Bancorp from $26.00 to $22.00 and set a “market perform” rating for the company in a report on Friday, February 7th. Stephens cut their target price on RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler decreased their price target on RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th.

RBB Bancorp Company Profile

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.