American International Group Inc. lifted its position in RBB Bancorp (NASDAQ:RBB) by 104.6% in the first quarter, HoldingsChannel reports. The firm owned 5,223 shares of the company’s stock after purchasing an additional 2,670 shares during the quarter. American International Group Inc.’s holdings in RBB Bancorp were worth $138,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. TIAA CREF Investment Management LLC purchased a new position in shares of RBB Bancorp in the 4th quarter worth about $162,000. Teachers Advisors LLC boosted its holdings in shares of RBB Bancorp by 49.7% in the 4th quarter. Teachers Advisors LLC now owns 6,576 shares of the company’s stock worth $180,000 after purchasing an additional 2,182 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of RBB Bancorp in the 4th quarter worth about $203,000. Spark Investment Management LLC purchased a new position in shares of RBB Bancorp in the 4th quarter worth about $216,000. Finally, Deutsche Bank AG boosted its holdings in shares of RBB Bancorp by 97.9% in the 4th quarter. Deutsche Bank AG now owns 8,513 shares of the company’s stock worth $231,000 after purchasing an additional 4,212 shares in the last quarter. Hedge funds and other institutional investors own 28.56% of the company’s stock.
In other RBB Bancorp news, CEO Yee Phong Thian sold 150,000 shares of the stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of $27.50, for a total value of $4,125,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vincent Liu sold 31,194 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $27.91, for a total value of $870,624.54. The disclosure for this sale can be found here. Insiders have sold a total of 185,194 shares of company stock valued at $5,112,705 over the last 90 days. 27.42% of the stock is currently owned by company insiders.
Shares of RBB stock opened at $33.00 on Monday. The stock has a market cap of $540.64 million and a P/E ratio of 18.13. RBB Bancorp has a 1-year low of $21.26 and a 1-year high of $33.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.11 and a quick ratio of 0.97.
RBB Bancorp (NASDAQ:RBB) last issued its earnings results on Monday, April 23rd. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $18.90 million during the quarter. RBB Bancorp had a return on equity of 12.43% and a net margin of 31.83%. equities research analysts expect that RBB Bancorp will post 2.07 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on RBB shares. Zacks Investment Research cut RBB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 28th. Stephens restated a “buy” rating and set a $31.00 target price on shares of RBB Bancorp in a report on Tuesday, April 24th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $35.00 target price on shares of RBB Bancorp in a report on Tuesday, April 24th.
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 communities. Its deposit products include checking, savings, and money market accounts; and certificates of deposits. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.
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