Red River Bancshares, Inc. (NASDAQ:RRBI) Sees Significant Growth in Short Interest

Red River Bancshares, Inc. (NASDAQ:RRBIGet Free Report) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 19,600 shares, an increase of 34.2% from the May 15th total of 14,600 shares. Based on an average daily trading volume, of 7,700 shares, the days-to-cover ratio is currently 2.5 days. Currently, 0.5% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, TheStreet cut Red River Bancshares from a “b” rating to a “c+” rating in a report on Monday, March 4th.

View Our Latest Research Report on RRBI

Red River Bancshares Stock Down 1.1 %

Shares of NASDAQ RRBI traded down $0.50 during midday trading on Friday, reaching $45.44. The company had a trading volume of 10,323 shares, compared to its average volume of 6,467. Red River Bancshares has a one year low of $42.78 and a one year high of $58.00. The firm’s fifty day moving average price is $46.58 and its 200-day moving average price is $49.98. The stock has a market cap of $313.54 million, a PE ratio of 9.69 and a beta of 0.61.

Red River Bancshares (NASDAQ:RRBIGet Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.11. Red River Bancshares had a return on equity of 11.46% and a net margin of 22.87%. The company had revenue of $26.29 million during the quarter, compared to analyst estimates of $26.16 million. As a group, equities research analysts expect that Red River Bancshares will post 4.64 EPS for the current year.

Red River Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Monday, June 10th. Red River Bancshares’s dividend payout ratio (DPR) is presently 7.68%.

Insider Buying and Selling

In related news, insider Tammi R. Salazar sold 781 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $50.05, for a total transaction of $39,089.05. Following the completion of the transaction, the insider now directly owns 39,901 shares in the company, valued at $1,997,045.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Michael D. Crowell acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average cost of $45.88 per share, for a total transaction of $45,880.00. Following the acquisition, the director now owns 16,350 shares of the company’s stock, valued at $750,138. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tammi R. Salazar sold 781 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $50.05, for a total value of $39,089.05. Following the completion of the transaction, the insider now owns 39,901 shares of the company’s stock, valued at $1,997,045.05. The disclosure for this sale can be found here. Insiders sold a total of 1,151 shares of company stock worth $57,626 over the last ninety days. 16.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Red River Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of RRBI. Jacobs Levy Equity Management Inc. bought a new stake in shares of Red River Bancshares in the 1st quarter valued at about $424,000. Simmons Bank purchased a new stake in Red River Bancshares in the 4th quarter worth approximately $473,000. Acadian Asset Management LLC lifted its holdings in Red River Bancshares by 108.4% in the 1st quarter. Acadian Asset Management LLC now owns 9,428 shares of the company’s stock worth $468,000 after buying an additional 4,903 shares during the period. BNP Paribas Financial Markets lifted its holdings in Red River Bancshares by 218.1% in the 4th quarter. BNP Paribas Financial Markets now owns 6,299 shares of the company’s stock worth $353,000 after buying an additional 4,319 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Red River Bancshares by 23.0% in the 4th quarter. Russell Investments Group Ltd. now owns 21,695 shares of the company’s stock worth $1,217,000 after buying an additional 4,052 shares during the period. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Company Profile

(Get Free Report)

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It offers commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit.

Further Reading

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