Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Drops By 19.8%

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 17,000 shares, a drop of 19.8% from the November 15th total of 21,200 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 11,500 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Trading of Red River Bancshares

A number of large investors have recently bought and sold shares of RRBI. Bank of New York Mellon Corp increased its position in Red River Bancshares by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 24,611 shares of the company’s stock worth $1,181,000 after buying an additional 1,690 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Red River Bancshares by 42.3% in the second quarter. Acadian Asset Management LLC now owns 13,417 shares of the company’s stock valued at $642,000 after purchasing an additional 3,989 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Red River Bancshares by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 71,660 shares of the company’s stock valued at $3,439,000 after purchasing an additional 4,960 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Red River Bancshares by 6.8% in the second quarter. Renaissance Technologies LLC now owns 11,000 shares of the company’s stock valued at $528,000 after purchasing an additional 700 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Red River Bancshares in the second quarter valued at $770,000. 27.55% of the stock is owned by hedge funds and other institutional investors.

Red River Bancshares Trading Down 0.8 %

Shares of RRBI traded down $0.48 on Friday, reaching $58.88. 4,793 shares of the company’s stock traded hands, compared to its average volume of 12,249. The stock has a market cap of $399.21 million, a PE ratio of 12.40 and a beta of 0.62. The stock’s 50 day simple moving average is $55.96 and its two-hundred day simple moving average is $52.12. Red River Bancshares has a 52-week low of $42.78 and a 52-week high of $62.13.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.09. The company had revenue of $40.32 million during the quarter, compared to the consensus estimate of $27.41 million. Red River Bancshares had a return on equity of 10.76% and a net margin of 21.42%. Analysts forecast that Red River Bancshares will post 4.79 earnings per share for the current year.

Red River Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Monday, December 9th. Red River Bancshares’s dividend payout ratio is currently 7.58%.

About Red River Bancshares

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.