SCHEDULE 13G/A: FJ Capital Management and Affiliates Disclose 9.14% Stake in RBB Bancorp

FJ Capital Management LLC, along with its affiliated funds and managing member Martin Friedman, has disclosed a combined beneficial ownership of 9.14% of RBB Bancorp's common stock as of December 31, 2024.

Summary

• FJ Capital Management LLC, Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, and Martin Friedman have filed an Amendment No. 5 to Schedule 13G regarding their beneficial ownership of RBB Bancorp (RBB) common stock.
• As of December 31, 2024, FJ Capital Management LLC and Martin Friedman each beneficially own 1,616,843 shares of RBB Bancorp common stock, representing 9.14% of the class.
• This aggregate ownership includes 1,511,408 shares held by Financial Opportunity Fund LLC (8.54% of class) and 30,764 shares held by Financial Opportunity Long/Short Fund LLC (0.17% of class).
• Additionally, 74,671 shares are held by managed accounts under FJ Capital Management LLC.
• FJ Capital Management LLC is the managing member of both Financial Opportunity Fund LLC and Financial Opportunity Long/Short Fund LLC.
• Martin Friedman is the Managing Member of FJ Capital Management LLC.
• All reporting persons disclaim beneficial ownership of the reported shares, except to the extent of their pecuniary interest therein.
• The filing certifies that the securities were not acquired or held for the purpose of changing or influencing control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake (9.14%) by FJ Capital Management and its affiliates may be viewed positively by some shareholders as it indicates institutional confidence or interest in RBB Bancorp. The certification that the stake is not for control purposes (other than potential nominations) suggests a passive investment intent, which might reassure existing management.

Key Dates

Keywords

RBB Bancorp, RBB, FJ Capital Management LLC, Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, Martin Friedman, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Institutional Investor, Investment Management