Connor Clark & Lunn Investment Management Ltd. Purchases 28,507 Shares of RBB Bancorp (NASDAQ:RBB)

Connor Clark & Lunn Investment Management Ltd. grew its position in RBB Bancorp (NASDAQ:RBB) by 222.1% in the fourth quarter, Holdings Channel reports. The fund owned 41,340 shares of the company’s stock after acquiring an additional 28,507 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in RBB Bancorp were worth $847,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RBB. Empowered Funds LLC lifted its stake in shares of RBB Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 53,098 shares of the company’s stock valued at $1,222,000 after acquiring an additional 2,680 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of RBB Bancorp by 13.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock valued at $86,000 after acquiring an additional 444 shares during the last quarter. State Street Corp lifted its stake in shares of RBB Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 323,727 shares of the company’s stock valued at $7,452,000 after acquiring an additional 11,809 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of RBB Bancorp by 50.9% in the 3rd quarter. Jane Street Group LLC now owns 27,582 shares of the company’s stock valued at $635,000 after acquiring an additional 9,305 shares during the last quarter. Finally, Zacks Investment Management bought a new position in shares of RBB Bancorp in the 3rd quarter valued at $1,208,000. 40.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their price target on RBB Bancorp from $26.00 to $22.00 and set a “market perform” rating for the company in a research note on Friday, February 7th. Stephens decreased their price objective on RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Piper Sandler decreased their price objective on RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th.

RBB Bancorp Stock Performance

NASDAQ RBB opened at $16.65 on Friday. The company has a market capitalization of $294.59 million, a price-to-earnings ratio of 11.40 and a beta of 0.95. RBB Bancorp has a twelve month low of $16.38 and a twelve month high of $25.30. The stock has a fifty day simple moving average of $18.20 and a 200 day simple moving average of $21.16. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). RBB Bancorp had a return on equity of 5.21% and a net margin of 11.49%. Sell-side analysts expect that RBB Bancorp will post 1.63 EPS for the current year.

RBB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.84%. RBB Bancorp’s payout ratio is currently 43.84%.

Insiders Place Their Bets

In related news, Director James Kao acquired 5,960 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were bought at an average price of $17.24 per share, with a total value of $102,750.40. Following the transaction, the director now directly owns 557,823 shares of the company’s stock, valued at $9,616,868.52. This trade represents a 1.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders acquired 9,924 shares of company stock worth $171,398. Company 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.