Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of RBB Bancorp (NASDAQ:RBB - Free Report) by 222.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,340 shares of the company's stock after purchasing an additional 28,507 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.23% of RBB Bancorp worth $847,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in RBB. Rhumbline Advisers grew its holdings in RBB Bancorp by 6.0% in the fourth quarter. Rhumbline Advisers now owns 26,554 shares of the company's stock valued at $544,000 after purchasing an additional 1,508 shares during the period. Empowered Funds LLC increased its position in RBB Bancorp by 5.0% during the 4th quarter. Empowered Funds LLC now owns 55,760 shares of the company's stock worth $1,143,000 after purchasing an additional 2,662 shares in the last quarter. R Squared Ltd purchased a new position in RBB Bancorp in the fourth quarter valued at approximately $29,000. SG Americas Securities LLC lifted its position in RBB Bancorp by 20.0% during the fourth quarter. SG Americas Securities LLC now owns 6,992 shares of the company's stock valued at $143,000 after buying an additional 1,167 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in RBB Bancorp by 572.2% during 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 during the period. Institutional investors and hedge funds own 40.14% of the company's stock.
Insiders Place Their Bets
In other RBB Bancorp news, Director James Kao acquired 5,960 shares of the firm's stock in a transaction on Monday, February 24th. The stock was purchased at an average price of $17.24 per share, with a total value of $102,750.40. Following the completion of the acquisition, the director now directly owns 557,823 shares in the company, valued at $9,616,868.52. This trade represents a 1.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 9,924 shares of company stock valued at $171,398 in the last ninety days. Corporate insiders own 6.63% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on RBB. Stephens cut their target price on shares of RBB Bancorp from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Piper Sandler decreased their target price 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. Finally, Keefe, Bruyette & Woods dropped their target price on RBB Bancorp from $26.00 to $22.00 and set a "market perform" rating on the stock in a report on Friday, February 7th.
View Our Latest Research Report on RBB Bancorp
RBB Bancorp Stock Down 2.3 %
RBB Bancorp stock traded down $0.40 during midday trading on Tuesday, hitting $16.66. 25,303 shares of the stock were exchanged, compared to its average volume of 48,276. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day moving average price of $18.17 and a two-hundred day moving average price of $21.11. The firm has a market cap of $295.38 million, a P/E ratio of 11.41 and a beta of 0.95. RBB Bancorp has a 1 year low of $16.38 and a 1 year high of $25.30.
RBB Bancorp (NASDAQ:RBB - Get Free Report) last released its quarterly earnings results 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%. On average, sell-side analysts predict that RBB Bancorp will post 1.63 earnings per share for the current fiscal year.
RBB Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st were paid a dividend of $0.16 per share. The ex-dividend date was Friday, January 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.84%. RBB Bancorp's dividend payout ratio (DPR) is 43.84%.
RBB Bancorp Company Profile
(
Free Report)
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.
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