Bank of New York Mellon Corp boosted its stake in shares of RBB Bancorp (NASDAQ:RBB) by 63.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,708 shares of the company’s stock after buying an additional 20,796 shares during the period. Bank of New York Mellon Corp owned 0.33% of RBB Bancorp worth $1,725,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in RBB Bancorp by 157.4% during the second quarter. Acadian Asset Management LLC now owns 38,907 shares of the company’s stock worth $1,249,000 after buying an additional 23,792 shares during the period. Northern Trust Corp increased its position in shares of RBB Bancorp by 86.9% during the first quarter. Northern Trust Corp now owns 73,083 shares of the company’s stock worth $1,928,000 after purchasing an additional 33,980 shares in the last quarter. Mackay Shields LLC increased its position in shares of RBB Bancorp by 125.8% during the second quarter. Mackay Shields LLC now owns 34,100 shares of the company’s stock worth $1,095,000 after purchasing an additional 19,000 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of RBB Bancorp by 95.0% during the second quarter. Wedge Capital Management L L P NC now owns 52,253 shares of the company’s stock worth $1,678,000 after purchasing an additional 25,453 shares in the last quarter. Finally, WP Advisors LLC acquired a new position in shares of RBB Bancorp during the second quarter worth $199,000. Institutional investors own 33.83% of the company’s stock.
Separately, Zacks Investment Research downgraded RBB Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th.
Shares of RBB stock opened at $23.30 on Friday. The firm has a market cap of $405.34 million, a PE ratio of 12.80 and a beta of 0.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.95 and a current ratio of 1.15. RBB Bancorp has a 12-month low of $22.99 and a 12-month high of $33.62.
RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Monday, July 23rd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The business had revenue of $20.62 million for the quarter. RBB Bancorp had a return on equity of 11.69% and a net margin of 31.31%. On average, analysts predict that RBB Bancorp will post 2.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Friday, September 28th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Thursday, September 27th. RBB Bancorp’s payout ratio is presently 19.78%.
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 communities. Its deposit products include checking, savings, and money market accounts; and certificates of deposits. 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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