Connor Clark & Lunn Investment Management Ltd. Has $847,000 Stock Position in RBB Bancorp (NASDAQ:RBB)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of RBB Bancorp (NASDAQ:RBB) by 222.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,340 shares of the company’s stock after buying an additional 28,507 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.23% of RBB Bancorp worth $847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RBB. Empowered Funds LLC increased its position in RBB Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 53,098 shares of the company’s stock worth $1,222,000 after buying an additional 2,680 shares during the last quarter. BNP Paribas Financial Markets increased its position in RBB Bancorp by 13.5% during the third quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock worth $86,000 after buying an additional 444 shares during the last quarter. State Street Corp increased its position in RBB Bancorp by 3.8% during the third quarter. State Street Corp now owns 323,727 shares of the company’s stock worth $7,452,000 after buying an additional 11,809 shares during the last quarter. Jane Street Group LLC increased its position in RBB Bancorp by 50.9% during the third quarter. Jane Street Group LLC now owns 27,582 shares of the company’s stock worth $635,000 after buying an additional 9,305 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in shares of RBB Bancorp in the third quarter valued at approximately $1,208,000. Institutional investors and hedge funds own 40.14% of the company’s stock.

RBB Bancorp Trading Down 2.5 %

Shares of RBB stock opened at $16.65 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66. The stock has a market cap of $294.59 million, a P/E ratio of 11.40 and a beta of 0.95. The stock has a 50 day simple moving average of $18.20 and a 200 day simple moving average of $21.16. RBB Bancorp has a 1 year low of $16.38 and a 1 year high of $25.30.

RBB Bancorp (NASDAQ:RBB) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). RBB Bancorp had a net margin of 11.49% and a return on equity of 5.21%. On average, research analysts predict that RBB Bancorp will post 1.63 earnings per share for the current fiscal year.

RBB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Friday, January 31st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Friday, January 31st. RBB Bancorp’s dividend payout ratio (DPR) is currently 43.84%.

Insider Activity at RBB Bancorp

In other RBB Bancorp news, Director James Kao bought 5,960 shares of the business’s stock in a transaction on Monday, February 24th. The stock was purchased at an average cost of $17.24 per share, for a total transaction of $102,750.40. Following the completion of the purchase, the director now directly owns 557,823 shares of the company’s stock, valued at approximately $9,616,868.52. This trade represents a 1.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders purchased 9,924 shares of company stock worth $171,398. Company insiders own 6.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RBB. Piper Sandler decreased their target price on RBB Bancorp from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Stephens decreased their target price on RBB Bancorp from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods decreased their target price on RBB Bancorp from $26.00 to $22.00 and set a “market perform” rating on the stock in a research report on Friday, February 7th.

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.