Red River Bancshares, Inc. (NASDAQ:RRBI) Sees Large Drop in Short Interest

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 17,100 shares, a drop of 20.1% from the January 31st total of 21,400 shares. Based on an average daily trading volume, of 11,900 shares, the short-interest ratio is presently 1.4 days. Approximately 0.4% of the company’s stock are short sold.

Red River Bancshares Trading Up 0.1 %

Shares of RRBI stock traded up $0.03 during midday trading on Tuesday, reaching $55.05. 1,721 shares of the stock were exchanged, compared to its average volume of 11,881. The firm has a market cap of $373.07 million, a PE ratio of 11.07 and a beta of 0.63. The company’s 50 day moving average is $54.67 and its two-hundred day moving average is $54.42. Red River Bancshares has a 1 year low of $42.78 and a 1 year high of $62.13.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.14. Red River Bancshares had a net margin of 21.71% and a return on equity of 11.04%. As a group, equities analysts expect that Red River Bancshares will post 5.28 EPS for the current fiscal year.

Red River Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.12 per share. This is an increase from Red River Bancshares’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, March 10th. Red River Bancshares’s payout ratio is currently 7.26%.

Institutional Investors Weigh In On Red River Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its holdings in Red River Bancshares by 138.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,146 shares of the company’s stock valued at $62,000 after purchasing an additional 666 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Red River Bancshares during the fourth quarter worth about $106,000. SG Americas Securities LLC bought a new stake in Red River Bancshares during the 4th quarter valued at approximately $109,000. FMR LLC lifted its holdings in Red River Bancshares by 140.5% in the 3rd quarter. FMR LLC now owns 2,128 shares of the company’s stock worth $111,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Red River Bancshares by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,695 shares of the company’s stock worth $145,000 after purchasing an additional 587 shares during the period. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

Red River Bancshares Company Profile

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.