Allspring Global Investments Holdings LLC Sells 9,243 Shares of RBB Bancorp (NASDAQ:RBB)

Allspring Global Investments Holdings LLC cut its holdings in shares of RBB Bancorp (NASDAQ:RBB) by 78.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,516 shares of the company’s stock after selling 9,243 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in RBB Bancorp were worth $30,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBB. Bank of New York Mellon Corp lifted its position in RBB Bancorp by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 119,289 shares of the company’s stock worth $2,802,000 after buying an additional 742 shares in the last quarter. American Century Companies Inc. lifted its position in RBB Bancorp by 29.4% during the 1st quarter. American Century Companies Inc. now owns 70,187 shares of the company’s stock worth $1,649,000 after buying an additional 15,938 shares in the last quarter. Acadian Asset Management LLC lifted its position in RBB Bancorp by 37.1% during the 1st quarter. Acadian Asset Management LLC now owns 26,469 shares of the company’s stock worth $620,000 after buying an additional 7,161 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of RBB Bancorp by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 7,339 shares of the company’s stock valued at $172,000 after purchasing an additional 2,663 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of RBB Bancorp by 5.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 510,955 shares of the company’s stock valued at $12,003,000 after purchasing an additional 24,437 shares during the period. 39.99% of the stock is owned by institutional investors.

RBB Bancorp Stock Up 2.1 %

Shares of RBB opened at $15.76 on Friday. RBB Bancorp has a 52 week low of $8.62 and a 52 week high of $23.09. The firm has a market cap of $299.36 million, a P/E ratio of 5.82 and a beta of 0.89. The firm’s 50-day simple moving average is $12.98 and its 200 day simple moving average is $12.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.08 and a current ratio of 1.09.

RBB Bancorp (NASDAQ:RBB) last announced its quarterly earnings results on Monday, October 23rd. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.16. RBB Bancorp had a net margin of 22.00% and a return on equity of 10.38%. The business had revenue of $35.32 million for the quarter, compared to analyst estimates of $32.35 million. On average, analysts forecast that RBB Bancorp will post 1.95 earnings per share for the current year.

RBB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Monday, October 30th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, October 27th. This represents a $0.64 dividend on an annualized basis and a yield of 4.06%. RBB Bancorp’s dividend payout ratio (DPR) is currently 23.62%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RBB shares. Stephens upped their target price on shares of RBB Bancorp from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Piper Sandler dropped their target price 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.

Insider Activity at RBB Bancorp

In other RBB Bancorp news, Director Scott Polakoff bought 7,912 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $13.52 per share, for a total transaction of $106,970.24. Following the transaction, the director now directly owns 7,412 shares in the company, valued at approximately $100,210.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other RBB Bancorp news, Director Scott Polakoff bought 7,912 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $13.52 per share, for a total transaction of $106,970.24. Following the transaction, the director now directly owns 7,412 shares in the company, valued at approximately $100,210.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Kao bought 2,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were acquired at an average price of $13.28 per share, for a total transaction of $26,560.00. Following the transaction, the director now owns 447,776 shares in the company, valued at $5,946,465.28. The disclosure for this purchase can be found here. 13.15% of the stock is owned by company insiders.

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.