Comerica Bank Trims Stock Holdings in RBB Bancorp (NASDAQ:RBB)

Comerica Bank reduced its stake in RBB Bancorp (NASDAQ:RBBGet Rating) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,665 shares of the company’s stock after selling 1,036 shares during the period. Comerica Bank owned approximately 0.35% of RBB Bancorp worth $1,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Amalgamated Bank purchased a new stake in RBB Bancorp during the first quarter worth about $42,000. Lazard Asset Management LLC increased its stake in RBB Bancorp by 66.5% during the second quarter. Lazard Asset Management LLC now owns 3,139 shares of the company’s stock worth $64,000 after purchasing an additional 1,254 shares during the period. BNP Paribas Arbitrage SA increased its stake in RBB Bancorp by 17.1% during the second quarter. BNP Paribas Arbitrage SA now owns 3,774 shares of the company’s stock worth $78,000 after purchasing an additional 552 shares during the period. SG Americas Securities LLC purchased a new stake in RBB Bancorp during the second quarter worth about $126,000. Finally, MetLife Investment Management LLC increased its stake in RBB Bancorp by 57.0% during the first quarter. MetLife Investment Management LLC now owns 7,339 shares of the company’s stock worth $172,000 after purchasing an additional 2,663 shares during the period. 36.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their price target on shares of RBB Bancorp to $22.50 in a research note on Friday, September 30th.

RBB Bancorp Stock Performance

Shares of RBB opened at $20.65 on Monday. The stock has a 50 day moving average price of $21.54 and a 200 day moving average price of $21.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $391.65 million, a price-to-earnings ratio of 6.45 and a beta of 0.85. RBB Bancorp has a 52-week low of $19.50 and a 52-week high of $29.08.

RBB Bancorp (NASDAQ:RBBGet Rating) last announced its quarterly earnings results on Monday, October 24th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $41.51 million during the quarter, compared to the consensus estimate of $40.00 million. RBB Bancorp had a return on equity of 13.38% and a net margin of 34.92%. During the same period in the prior year, the company posted $0.77 earnings per share. Research analysts predict that RBB Bancorp will post 3.32 EPS for the current fiscal year.

RBB Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Monday, January 30th will be issued a $0.16 dividend. This is an increase from RBB Bancorp’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, January 27th. RBB Bancorp’s dividend payout ratio is presently 17.50%.

RBB Bancorp Profile

(Get Rating)

RBB Bancorp is a bank holding company, which engages in the provision of commercial banking services through its subsidiaries. Its services include remote deposit, e-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, SBA 7A and 504 loans, mortgage loans, trade finance, and a range of depository accounts.

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Institutional Ownership by Quarter for RBB Bancorp (NASDAQ:RBB)

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