Tower Research Capital LLC TRC Lowers Stake in RBB Bancorp (NASDAQ:RBB)

Tower Research Capital LLC TRC reduced its position in shares of RBB Bancorp (NASDAQ:RBB) by 71.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,597 shares of the company’s stock after selling 3,955 shares during the period. Tower Research Capital LLC TRC’s holdings in RBB Bancorp were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RBB. Allspring Global Investments Holdings LLC boosted its stake in shares of RBB Bancorp by 36.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,445 shares of the company’s stock worth $44,000 after acquiring an additional 929 shares in the last quarter. AJOVista LLC purchased a new stake in shares of RBB Bancorp during the 4th quarter worth about $59,000. Quadrature Capital Ltd purchased a new stake in shares of RBB Bancorp during the 3rd quarter worth about $138,000. New York State Common Retirement Fund boosted its stake in shares of RBB Bancorp by 101.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,943 shares of the company’s stock worth $170,000 after acquiring an additional 4,503 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of RBB Bancorp during the 4th quarter worth about $177,000. 40.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Hovde Group assumed coverage on shares of RBB Bancorp in a research note on Monday, April 22nd. They set a “market perform” rating and a $19.00 target price on the stock. Stephens reaffirmed an “equal weight” rating and issued a $20.00 price target on shares of RBB Bancorp in a research note on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $22.00 price target (up from $20.00) on shares of RBB Bancorp in a research note on Thursday, April 25th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.50.

RBB Bancorp Price Performance

RBB Bancorp stock traded up $0.11 during midday trading on Friday, reaching $18.23. The company had a trading volume of 26,692 shares, compared to its average volume of 42,823. The company has a market capitalization of $339.48 million, a P/E ratio of 8.00 and a beta of 0.95. RBB Bancorp has a 12-month low of $8.62 and a 12-month high of $20.22. The firm’s fifty day simple moving average is $17.46 and its 200-day simple moving average is $16.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 1.09.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. The firm had revenue of $58.17 million for the quarter, compared to analyst estimates of $27.40 million. RBB Bancorp had a net margin of 17.69% and a return on equity of 7.74%. During the same period last year, the company posted $0.58 EPS. As a group, equities analysts anticipate that RBB Bancorp will post 1.49 EPS for the current year.

RBB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Wednesday, May 1st will be issued a $0.16 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 3.51%. RBB Bancorp’s payout ratio is 28.07%.

Insider Buying and Selling at RBB Bancorp

In other RBB Bancorp news, Director James Kao acquired 6,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $17.06 per share, for a total transaction of $102,360.00. Following the acquisition, the director now owns 501,376 shares in the company, valued at $8,553,474.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders acquired 23,977 shares of company stock worth $407,460. Insiders own 6.63% of the company’s stock.

RBB Bancorp 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.