RBB Bancorp $RBB Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lessened its position in shares of RBB Bancorp (NASDAQ:RBB) by 22.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,950 shares of the company’s stock after selling 13,589 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.26% of RBB Bancorp worth $758,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new position in 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 1st quarter. Royal Bank of Canada now owns 16,312 shares of the company’s stock worth $268,000 after purchasing an additional 2,762 shares during the last quarter. Deutsche Bank AG lifted its stake in RBB Bancorp by 229.0% in the 4th quarter. Deutsche Bank AG now owns 15,860 shares of the company’s stock valued at $325,000 after buying an additional 11,040 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of RBB Bancorp by 22.6% in 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. Finally, Jane Street Group LLC lifted its position in shares of RBB Bancorp by 75.9% in the first quarter. Jane Street Group LLC now owns 28,823 shares of the company’s stock valued at $476,000 after acquiring an additional 12,437 shares in the last quarter. 40.14% of the stock is owned by institutional investors and hedge funds.

RBB Bancorp Price Performance

Shares of NASDAQ RBB opened at $19.29 on Wednesday. The company has a market capitalization of $332.75 million, a price-to-earnings ratio of 14.95 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. RBB Bancorp has a 1-year low of $14.40 and a 1-year high of $25.30. The business has a 50-day moving average of $19.30 and a 200-day moving average of $17.55.

RBB Bancorp (NASDAQ:RBB) last released its quarterly earnings results on Monday, July 21st. The company reported $0.52 EPS for the quarter, topping 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 fiscal year.

RBB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Thursday, July 31st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, July 31st. RBB Bancorp’s dividend payout ratio (DPR) is presently 49.61%.

RBB Bancorp declared that its board has authorized a share repurchase plan on Thursday, May 29th that permits the company to repurchase $18.00 million in shares. This repurchase authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on RBB. Wall Street Zen upgraded RBB Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods boosted their price objective 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, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.33.

RBB Bancorp Company 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.