Azora Capital LP Acquires New Position in RBB Bancorp $RBB

Azora Capital LP acquired a new stake in RBB Bancorp (NASDAQ:RBB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 30,913 shares of the company’s stock, valued at approximately $638,000. Azora Capital LP owned about 0.18% of RBB Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new position in shares of RBB Bancorp in the 4th quarter valued at approximately $3,084,000. GSA Capital Partners LLP raised its position in shares of RBB Bancorp by 224.7% in the 4th quarter. GSA Capital Partners LLP now owns 39,576 shares of the company’s stock valued at $817,000 after purchasing an additional 27,386 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of RBB Bancorp in the 4th quarter valued at approximately $228,000. Price T Rowe Associates Inc. MD purchased a new position in shares of RBB Bancorp in the 4th quarter valued at approximately $221,000. Finally, First Trust Advisors LP raised its position in shares of RBB Bancorp by 5.0% in the 2nd 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 during the last quarter. 40.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on RBB. Zacks Research raised shares of RBB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Hovde Group upgraded shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $26.00 to $29.00 in a report on Tuesday. Finally, Weiss Ratings upgraded shares of RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.33.

Insider Transactions at RBB Bancorp

In other news, Director David Richard Morris sold 1,946 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $23.99, for a total transaction of $46,684.54. Following the sale, the director owned 43,422 shares of the company’s stock, valued at $1,041,693.78. This trade represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Chuang I. Lin sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $24.23, for a total transaction of $242,300.00. Following the sale, the director directly owned 51,347 shares in the company, valued at $1,244,137.81. The trade was a 16.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 24,814 shares of company stock valued at $597,630 in the last 90 days. 6.78% of the stock is currently owned by company insiders.

RBB Bancorp Price Performance

Shares of NASDAQ RBB opened at $24.96 on Thursday. The stock has a market capitalization of $422.82 million, a price-to-earnings ratio of 10.58 and a beta of 1.05. RBB Bancorp has a 12 month low of $15.94 and a 12 month high of $26.12. The firm’s 50 day simple moving average is $23.71 and its 200-day simple moving average is $22.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.06 and a quick ratio of 1.06.

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

RBB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.6%. RBB Bancorp’s dividend payout ratio (DPR) is presently 27.12%.

RBB Bancorp announced that its Board of Directors has approved a share repurchase program on Monday, June 15th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

RBB Bancorp 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.