Hillsdale Investment Management Inc. Purchases New Stake in RBB Bancorp $RBB

Hillsdale Investment Management Inc. purchased a new stake in RBB Bancorp (NASDAQ:RBB) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 149,400 shares of the company’s stock, valued at approximately $3,084,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Trust Advisors LP raised its stake in RBB Bancorp by 5.0% in the second quarter. First Trust Advisors LP now owns 11,647 shares of the company’s stock valued at $200,000 after purchasing an additional 555 shares in the last quarter. PNC Financial Services Group Inc. grew its position in RBB Bancorp by 12.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,145 shares of the company’s stock valued at $127,000 after acquiring an additional 703 shares during the last quarter. BNP Paribas Financial Markets grew its position in RBB Bancorp by 84.9% in the second quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock valued at $31,000 after acquiring an additional 835 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in RBB Bancorp by 17.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock valued at $124,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Torren Management LLC bought a new position in RBB Bancorp in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 40.14% of the company’s stock.

Analyst Ratings Changes

RBB has been the topic of a number of recent analyst reports. Hovde Group lifted their target price on RBB Bancorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded RBB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.33.

RBB Bancorp Stock Performance

RBB Bancorp stock opened at $23.92 on Monday. RBB Bancorp has a 12-month low of $15.94 and a 12-month high of $24.73. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $22.88 and its two-hundred day moving average price is $21.76. The stock has a market cap of $405.20 million, a PE ratio of 10.14 and a beta of 1.05.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings results on Monday, April 20th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.21. The company had revenue of $34.75 million for the quarter, compared to analysts’ expectations of $32.38 million. RBB Bancorp had a return on equity of 7.85% and a net margin of 16.76%. As a group, analysts expect that RBB Bancorp will post 2.35 earnings per share for the current fiscal year.

RBB Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, April 30th. RBB Bancorp’s payout ratio is 27.12%.

Insider Transactions at RBB Bancorp

In other news, Director David Richard Morris sold 4,500 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $23.90, for a total transaction of $107,550.00. Following the sale, the director directly owned 43,422 shares in the company, valued at approximately $1,037,785.80. The trade was a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Chuang I. Lin sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $24.23, for a total value of $242,300.00. Following the sale, the director owned 51,347 shares in the company, valued at approximately $1,244,137.81. This trade represents a 16.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 22,868 shares of company stock worth $550,946. Insiders own 6.78% of the company’s stock.

RBB Bancorp Company Profile

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.