RBB Bancorp (NASDAQ:RBB) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in shares of RBB Bancorp (NASDAQ:RBB) by 22.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,613 shares of the company’s stock after selling 4,603 shares during the period. Truist Financial Corp owned 0.08% of RBB Bancorp worth $186,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RBB. Strs Ohio boosted its position in RBB Bancorp by 37.3% during the second quarter. Strs Ohio now owns 43,800 shares of the company’s stock worth $522,000 after purchasing an additional 11,900 shares in the last quarter. EA Series Trust acquired a new position in shares of RBB Bancorp during the 2nd quarter worth approximately $434,000. Ameriprise Financial Inc. lifted its position in shares of RBB Bancorp by 54.9% during the 1st quarter. Ameriprise Financial Inc. now owns 33,581 shares of the company’s stock valued at $521,000 after buying an additional 11,900 shares in the last quarter. State Street Corp grew its stake in RBB Bancorp by 6.2% in the 1st quarter. State Street Corp now owns 320,842 shares of the company’s stock valued at $4,973,000 after acquiring an additional 18,733 shares during the period. Finally, Geode Capital Management LLC increased its holdings in RBB Bancorp by 4.2% in the 1st quarter. Geode Capital Management LLC now owns 265,847 shares of the company’s stock worth $4,121,000 after acquiring an additional 10,812 shares in the last quarter. Institutional investors and hedge funds own 39.99% of the company’s stock.

Insider Transactions at RBB Bancorp

In related news, Director James Kao purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average price of $13.28 per share, with a total value of $26,560.00. Following the completion of the acquisition, the director now owns 447,776 shares in the company, valued at $5,946,465.28. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director James Kao purchased 2,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average price of $13.28 per share, with a total value of $26,560.00. Following the transaction, the director now owns 447,776 shares in the company, valued at approximately $5,946,465.28. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Polakoff acquired 7,912 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average price of $13.52 per share, with a total value of $106,970.24. Following the completion of the transaction, the director now owns 7,412 shares of the company’s stock, valued at approximately $100,210.24. The disclosure for this purchase can be found here. Insiders own 13.15% of the company’s stock.

Wall Street Analysts Forecast Growth

RBB has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of RBB Bancorp from $13.75 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Stephens lifted their price objective on RBB Bancorp from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th.

RBB Bancorp Trading Up 12.8 %

Shares of RBB stock opened at $15.25 on Wednesday. RBB Bancorp has a fifty-two week low of $8.62 and a fifty-two week high of $23.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s fifty day moving average is $12.87 and its two-hundred day moving average is $12.63. The firm has a market capitalization of $289.75 million, a P/E ratio of 5.63 and a beta of 0.89.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, October 23rd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.16. The firm had revenue of $35.32 million for the quarter, compared to the consensus estimate of $32.35 million. RBB Bancorp had a net margin of 22.00% and a return on equity of 10.43%. Research analysts expect that RBB Bancorp will post 2.07 earnings per share for the current fiscal year.

RBB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Monday, October 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Friday, October 27th. RBB Bancorp’s dividend payout ratio (DPR) is 23.62%.

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.