Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 1.03MM shares of RBB Bancorp (RBB). This represents 5.4% of the company.
In their previous filing dated May 9, 2022 they reported 0.96MM shares and 5.00% of the company, an increase in shares of 6.62% and an increase in total ownership of 0.40% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 16.99% Upside
As of February 1, 2023, the average one-year price target for RBB Bancorp is $24.28. The forecasts range from a low of $22.72 to a high of $26.25. The average price target represents an increase of 16.99% from its latest reported closing price of $20.75.
The projected annual revenue for RBB Bancorp is $175MM, an increase of 13.25%. The projected annual EPS is $3.48, an increase of 3.29%.
Fund Sentiment
There are 212 funds or institutions reporting positions in RBB Bancorp. This is a decrease of 12 owner(s) or 5.36%.
Average portfolio weight of all funds dedicated to US:RBB is 0.0624%, an increase of 25.9117%. Total shares owned by institutions increased in the last three months by 1.73% to 7,902K shares.
What are large shareholders doing?
FJ Capital Management holds 1,374,000 shares representing 7.24% ownership of the company. In it's prior filing, the firm reported owning 1,183,000 shares, representing an increase of 13.90%. The firm increased its portfolio allocation in RBB by 45.31% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 435,114 shares representing 2.29% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 323,396 shares representing 1.71% ownership of the company. In it's prior filing, the firm reported owning 340,812 shares, representing a decrease of 5.39%. The firm increased its portfolio allocation in RBB by 3.31% over the last quarter.
Lsv Asset Management holds 303,787 shares representing 1.60% ownership of the company. In it's prior filing, the firm reported owning 342,487 shares, representing a decrease of 12.74%. The firm decreased its portfolio allocation in RBB by 3.10% over the last quarter.
Geode Capital Management holds 246,974 shares representing 1.30% ownership of the company. In it's prior filing, the firm reported owning 246,078 shares, representing an increase of 0.36%. The firm increased its portfolio allocation in RBB by 4.48% over the last quarter.
RBB Bancorp Declares $0.16 Dividend
RBB Bancorp said on January 19, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of January 27, 2023 will receive the payment on February 10, 2023. Previously, the company paid $0.14 per share.
At the current share price of $20.75 / share, the stock's dividend yield is 3.08%. Looking back five years and taking a sample every week, the average dividend yield has been 2.29%, the lowest has been 1.09%, and the highest has been 4.27%. The standard deviation of yields is 0.76 (n=237).
The current dividend yield is 1.06 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.19. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.
RBB Bancorp Background Information
(This description is provided by the company.)
RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. The Company has total assets of $2.8 billion as of June 30, 2019. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides business banking services to the Chinese-American communities in Los Angeles County, Orange County and Ventura County in California, in Las Vegas, Nevada, and in Brooklyn, Queens, and Manhattan in New York City. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, automobile lending, trade finance, a full range of depository account products and wealth management services. The Bank has ten branches in Los Angeles County, two branches in Ventura County, one branch in Irvine, California, one branch in Las Vegas, Nevada, and nine branches and two loan offices in Brooklyn, Queens and Manhattan in New York. The Company's administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its finance and operations center is located at 7025 Orangethorpe Avenue, Buena Park, California 90621.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
