Hillsdale Investment Management Inc. Acquires 72,000 Shares of RBB Bancorp $RBB

Hillsdale Investment Management Inc. boosted its holdings in RBB Bancorp (NASDAQ:RBB) by 48.2% during the first quarter, Holdings Channel.com reports. The firm owned 221,400 shares of the company’s stock after acquiring an additional 72,000 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in RBB Bancorp were worth $4,731,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. First Trust Advisors LP boosted 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 worth $200,000 after purchasing an additional 555 shares in the last quarter. PNC Financial Services Group Inc. increased its position in RBB Bancorp by 12.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,145 shares of the company’s stock valued at $127,000 after buying an additional 703 shares in the last quarter. BNP Paribas Financial Markets increased its position in RBB Bancorp by 84.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,819 shares of the company’s stock valued at $31,000 after buying an additional 835 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in RBB Bancorp by 17.9% during the third quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock valued at $124,000 after buying an additional 1,000 shares during the last quarter. Finally, Barclays PLC raised its stake in RBB Bancorp by 4.4% during the fourth quarter. Barclays PLC now owns 25,157 shares of the company’s stock valued at $519,000 after buying an additional 1,067 shares during the last quarter. 40.14% of the stock is currently owned by hedge funds and other institutional investors.

RBB Bancorp Trading Down 0.6%

Shares of NASDAQ:RBB opened at $27.09 on Wednesday. The company has a market cap of $458.90 million, a P/E ratio of 11.48 and a beta of 1.03. 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 has a 1 year low of $16.74 and a 1 year high of $28.20. The stock’s fifty day moving average price is $25.02 and its 200-day moving average price is $22.93.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings data on Monday, April 20th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.45 by $0.21. RBB Bancorp had a return on equity of 7.85% and a net margin of 16.76%.The company had revenue of $34.75 million during the quarter, compared to the consensus estimate of $32.38 million. Sell-side analysts expect that RBB Bancorp will post 2.36 earnings per share for the current year.

RBB Bancorp announced that its board has approved a share repurchase program on Monday, June 15th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

RBB Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, April 30th. This represents a $0.64 annualized dividend and a yield of 2.4%. RBB Bancorp’s dividend payout ratio is currently 27.12%.

Insider Activity

In other news, EVP Gary Fan sold 2,368 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $24.01, for a total transaction of $56,855.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the director owned 51,347 shares in the company, valued at approximately $1,244,137.81. This trade represents a 16.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,814 shares of company stock valued at $597,630 in the last 90 days. 6.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RBB has been the topic of a number of recent research reports. Weiss Ratings raised RBB Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Zacks Research raised RBB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Hovde Group upgraded shares of RBB Bancorp from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $26.00 to $29.00 in a research note on Tuesday, June 16th. One 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 company’s stock. According to data from MarketBeat.com, RBB Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

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.