Rhino Investment Partners Inc Has $7.24 Million Position in RBB Bancorp $RBB

Rhino Investment Partners Inc lifted its holdings in shares of RBB Bancorp (NASDAQ:RBB) by 9.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 338,810 shares of the company’s stock after purchasing an additional 29,070 shares during the period. RBB Bancorp comprises 2.0% of Rhino Investment Partners Inc’s portfolio, making the stock its 19th largest holding. Rhino Investment Partners Inc’s holdings in RBB Bancorp were worth $7,240,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new position in RBB Bancorp during the 4th quarter worth about $3,084,000. North Reef Capital Management LP acquired a new stake in RBB Bancorp in the 1st quarter valued at about $1,371,000. Azora Capital LP acquired a new stake in RBB Bancorp in the 4th quarter valued at about $638,000. GSA Capital Partners LLP raised its stake in shares of RBB Bancorp by 224.7% in the fourth quarter. GSA Capital Partners LLP now owns 39,576 shares of the company’s stock worth $817,000 after acquiring an additional 27,386 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of RBB Bancorp by 47.9% in the first quarter. Quantinno Capital Management LP now owns 66,144 shares of the company’s stock worth $1,413,000 after acquiring an additional 21,434 shares during the last quarter. 40.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Gary Fan sold 2,368 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $24.01, for a total value of $56,855.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Chuang I. Lin sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $24.23, for a total transaction of $242,300.00. Following the completion of the transaction, the director owned 51,347 shares in the company, valued at $1,244,137.81. This represents a 16.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,814 shares of company stock valued at $453,390 over the last ninety days. Insiders own 6.78% of the company’s stock.

RBB Bancorp Price Performance

Shares of RBB stock opened at $26.56 on Wednesday. The stock has a 50-day moving average price of $25.66 and a 200 day moving average price of $23.35. 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 firm has a market cap of $449.93 million, a price-to-earnings ratio of 10.93 and a beta of 1.03. RBB Bancorp has a 12 month low of $16.74 and a 12 month high of $28.24.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. RBB Bancorp had a return on equity of 7.99% and a net margin of 17.26%.The firm had revenue of $33.10 million during the quarter, compared to analysts’ expectations of $33.17 million. Research analysts expect that RBB Bancorp will post 2.37 EPS for the current year.

RBB Bancorp declared that its board has authorized a share buyback plan on Monday, June 15th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

RBB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st will be given a dividend of $0.16 per share. The ex-dividend date is Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. RBB Bancorp’s payout ratio is currently 26.34%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RBB. Weiss Ratings upgraded shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Stephens raised their price target on shares of RBB Bancorp from $26.00 to $29.00 and gave the company a “positive” rating in a report on Thursday, July 23rd. Hovde Group upgraded shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $26.00 to $29.00 in a research report on Tuesday, June 16th. Finally, Zacks Research downgraded RBB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.50.

About RBB Bancorp

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.