Geode Capital Management LLC Trims Stake in RBB Bancorp (NASDAQ:RBB)

Geode Capital Management LLC trimmed its position in RBB Bancorp (NASDAQ:RBB) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 349,460 shares of the company’s stock after selling 4,693 shares during the quarter. Geode Capital Management LLC’s holdings in RBB Bancorp were worth $8,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RBB. BNP Paribas Financial Markets boosted its stake in shares of RBB Bancorp by 13.5% during the third quarter. BNP Paribas Financial Markets now owns 3,744 shares of the company’s stock valued at $86,000 after purchasing an additional 444 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of RBB Bancorp in the 3rd quarter valued at $134,000. AQR Capital Management LLC purchased a new stake in shares of RBB Bancorp during the 2nd quarter worth $244,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in RBB Bancorp during the third quarter valued at about $295,000. Finally, Rhumbline Advisers grew its stake in RBB Bancorp by 3.9% in the second quarter. Rhumbline Advisers now owns 25,076 shares of the company’s stock valued at $472,000 after purchasing an additional 932 shares during the last quarter. Institutional investors own 40.14% of the company’s stock.

RBB Bancorp Stock Performance

Shares of RBB Bancorp stock opened at $20.15 on Friday. The company has a market capitalization of $356.51 million, a PE ratio of 10.89 and a beta of 0.96. The company has a 50-day simple moving average of $23.00 and a two-hundred day simple moving average of $22.07. RBB Bancorp has a one year low of $16.49 and a one year high of $25.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. RBB Bancorp had a net margin of 14.50% and a return on equity of 5.94%. The firm had revenue of $60.17 million during the quarter, compared to analyst estimates of $28.17 million. During the same quarter in the previous year, the business posted $0.63 EPS. Research analysts expect that RBB Bancorp will post 1.58 EPS for the current fiscal year.

RBB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.18%. RBB Bancorp’s dividend payout ratio is presently 34.59%.

Insider Transactions at RBB Bancorp

In related news, CEO David Richard Morris sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $24.89, for a total value of $224,010.00. Following the sale, the chief executive officer now owns 37,722 shares in the company, valued at $938,900.58. This represents a 19.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gary Fan sold 12,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $23.45, for a total transaction of $281,400.00. The disclosure for this sale can be found here. Insiders own 6.63% of the company’s stock.

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.