Jacobs Levy Equity Management Inc. Buys 3,417 Shares of RBB Bancorp $RBB

Jacobs Levy Equity Management Inc. lifted its stake in shares of RBB Bancorp (NASDAQ:RBB) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,678 shares of the company’s stock after acquiring an additional 3,417 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.30% of RBB Bancorp worth $886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of RBB Bancorp by 195.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the company’s stock worth $36,000 after acquiring an additional 1,149 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of RBB Bancorp during the fourth quarter worth about $215,000. Royal Bank of Canada raised its position in shares of RBB Bancorp by 20.4% during the first quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock worth $268,000 after acquiring an additional 2,762 shares during the last quarter. Deutsche Bank AG raised its position in shares of RBB Bancorp by 229.0% during the fourth quarter. Deutsche Bank AG now owns 15,860 shares of the company’s stock worth $325,000 after acquiring an additional 11,040 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of RBB Bancorp by 22.6% during the fourth quarter. Bank of America Corp DE now owns 18,749 shares of the company’s stock worth $384,000 after acquiring an additional 3,462 shares during the last quarter. 40.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on RBB shares. Wall Street Zen raised shares of RBB Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods upped their price target on shares of RBB Bancorp from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.33.

RBB Bancorp Price Performance

Shares of RBB opened at $19.62 on Friday. RBB Bancorp has a 52-week low of $14.40 and a 52-week high of $25.30. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50 day moving average price is $19.17 and its two-hundred day moving average price is $17.45. The firm has a market cap of $338.45 million, a PE ratio of 15.21 and a beta of 1.13.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Monday, July 21st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.16. RBB Bancorp had a return on equity of 4.50% and a net margin of 9.80%.The firm had revenue of $35.81 million for the quarter, compared to analyst estimates of $29.60 million. On average, equities analysts anticipate 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 Tuesday, August 12th. Shareholders of record on Thursday, July 31st were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $0.64 annualized dividend and a yield of 3.3%. RBB Bancorp’s payout ratio is 49.61%.

RBB Bancorp announced that its board has approved a stock buyback plan on Thursday, May 29th that permits the company to buyback $18.00 million in shares. This buyback authorization permits the company to buy up to 6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.