Empowered Funds LLC Invests $2.87 Million in RBB Bancorp $RBB

Empowered Funds LLC purchased a new position in shares of RBB Bancorp (NASDAQ:RBB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 104,534 shares of the company’s stock, valued at approximately $2,866,000.

Several other institutional investors also recently bought and sold shares of RBB. BNP Paribas Financial Markets raised 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 worth $31,000 after buying an additional 835 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in shares of RBB Bancorp in the 4th quarter worth $34,000. Legal & General Group Plc purchased a new stake in shares of RBB Bancorp in the second quarter valued at about $46,000. Public Employees Retirement System of Ohio boosted its holdings in shares of RBB Bancorp by 17.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,593 shares of the company’s stock valued at $124,000 after acquiring an additional 1,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of RBB Bancorp by 12.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,145 shares of the company’s stock worth $127,000 after acquiring an additional 703 shares during the period. 40.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of RBB Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Stephens boosted their target price on RBB Bancorp from $26.00 to $29.00 and gave the stock a “positive” rating in a research report on Thursday, July 23rd. Zacks Research downgraded RBB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, Hovde Group raised RBB Bancorp from a “market perform” rating to an “outperform” rating and raised their price target for the company from $26.00 to $29.00 in a report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, RBB Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

RBB Bancorp Trading Up 2.0%

Shares of RBB opened at $26.40 on Thursday. RBB Bancorp has a twelve month low of $16.74 and a twelve month high of $28.24. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $446.69 million, a P/E ratio of 10.86 and a beta of 1.02. The firm’s 50-day moving average is $26.79 and its two-hundred day moving average is $24.29.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The company had revenue of $33.10 million during the quarter, compared to the consensus estimate of $33.17 million. RBB Bancorp had a net margin of 17.26% and a return on equity of 7.94%. On average, research analysts predict that RBB Bancorp will post 2.37 earnings per share for the current fiscal year.

RBB Bancorp declared that its Board of Directors has initiated a share repurchase program on Monday, June 15th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

RBB Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Friday, July 31st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 31st. RBB Bancorp’s dividend payout ratio is presently 26.34%.

RBB Bancorp Company 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.