Royal Bank of Canada lowered its position in RBB Bancorp (NASDAQ:RBB) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,120 shares of the company’s stock after selling 835 shares during the period. Royal Bank of Canada’s holdings in RBB Bancorp were worth $84,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in RBB. Citigroup Inc. boosted its holdings in RBB Bancorp by 41.5% in the first quarter. Citigroup Inc. now owns 4,644 shares of the company’s stock worth $64,000 after acquiring an additional 1,361 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in RBB Bancorp by 28.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,018 shares of the company’s stock worth $69,000 after acquiring an additional 1,121 shares in the last quarter. Denali Advisors LLC boosted its holdings in RBB Bancorp by 30.8% in the first quarter. Denali Advisors LLC now owns 8,520 shares of the company’s stock worth $117,000 after acquiring an additional 2,004 shares in the last quarter. Piper Sandler & CO. bought a new position in RBB Bancorp in the first quarter worth approximately $148,000. Finally, Meeder Asset Management Inc. boosted its holdings in RBB Bancorp by 233.8% in the first quarter. Meeder Asset Management Inc. now owns 11,986 shares of the company’s stock worth $164,000 after acquiring an additional 8,395 shares in the last quarter. Institutional investors and hedge funds own 31.74% of the company’s stock.
Shares of RBB opened at $12.80 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $255.36 million, a price-to-earnings ratio of 8.12 and a beta of 0.95. The stock has a 50 day moving average of $13.09 and a 200 day moving average of $14.89. RBB Bancorp has a 12 month low of $10.61 and a 12 month high of $21.90.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, July 31st. RBB Bancorp’s payout ratio is 12.31%.
In other RBB Bancorp news, Director James Kao purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average cost of $12.54 per share, with a total value of $25,080.00. Following the completion of the transaction, the director now owns 406,876 shares of the company’s stock, valued at approximately $5,102,225.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 11,000 shares of company stock valued at $133,560 over the last ninety days. 20.66% of the stock is currently owned by company insiders.
RBB has been the topic of a number of recent research reports. TheStreet upgraded RBB Bancorp from a “d” rating to a “c” rating in a report on Monday, July 27th. Janney Montgomery Scott lowered RBB Bancorp from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Thursday, April 23rd. BidaskClub lowered RBB Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 7th. Piper Sandler initiated coverage on RBB Bancorp in a report on Thursday, June 18th. They issued a “hold” rating and a $14.00 target price on the stock. Finally, Zacks Investment Research upgraded RBB Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. RBB Bancorp presently has an average rating of “Hold” and an average price target of $17.75.
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 communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.
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