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

Bank of New York Mellon Corp trimmed its stake in shares of RBB Bancorp (NASDAQ:RBB - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,759 shares of the company's stock after selling 16,095 shares during the quarter. Bank of New York Mellon Corp owned 0.33% of RBB Bancorp worth $1,183,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Zacks Investment Management bought a new position in RBB Bancorp in the 3rd quarter valued at $1,208,000. JPMorgan Chase & Co. raised its position in shares of RBB Bancorp by 572.2% in the third quarter. JPMorgan Chase & Co. now owns 50,264 shares of the company's stock worth $1,157,000 after buying an additional 42,786 shares in the last quarter. Barclays PLC boosted its stake in RBB Bancorp by 285.6% during the third quarter. Barclays PLC now owns 21,477 shares of the company's stock valued at $495,000 after buying an additional 15,907 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in RBB Bancorp during the third quarter worth about $295,000. Finally, State Street Corp increased its stake in RBB Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 323,727 shares of the company's stock worth $7,452,000 after acquiring an additional 11,809 shares during the last quarter. Hedge funds and other institutional investors own 40.14% of the company's stock.

RBB Bancorp Price Performance

Shares of NASDAQ RBB traded down $0.35 during trading hours on Friday, reaching $16.64. 36,211 shares of the stock traded hands, compared to its average volume of 49,805. The company's 50-day simple moving average is $17.99 and its two-hundred day simple moving average is $21.02. The company has a market capitalization of $295.03 million, a P/E ratio of 11.40 and a beta of 0.95. RBB Bancorp has a 52-week low of $16.38 and a 52-week high of $25.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66.

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RBB Bancorp (NASDAQ:RBB - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.12). RBB Bancorp had a net margin of 11.49% and a return on equity of 5.21%. Equities research analysts forecast that RBB Bancorp will post 1.63 EPS for the current 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 paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Friday, January 31st. RBB Bancorp's dividend payout ratio is presently 43.84%.

Insider Buying and Selling at RBB Bancorp

In related news, Director James Kao acquired 5,960 shares of the stock in a transaction on Monday, February 24th. The stock was purchased at an average price of $17.24 per share, for a total transaction of $102,750.40. Following the completion of the transaction, the director now owns 557,823 shares of the company's stock, valued at $9,616,868.52. This trade represents a 1.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders acquired a total of 9,924 shares of company stock worth $171,398 over the last three months. Company insiders own 6.63% of the company's stock.

Analyst Upgrades and Downgrades

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