Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Down 24.7% in April

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 13,700 shares, a decline of 24.7% from the March 31st total of 18,200 shares. Based on an average daily volume of 9,300 shares, the short-interest ratio is presently 1.5 days. Approximately 0.3% of the shares of the stock are sold short.

Red River Bancshares Stock Performance

Shares of RRBI stock traded up $1.56 during trading on Friday, hitting $47.21. 5,316 shares of the company were exchanged, compared to its average volume of 8,446. The firm has a market capitalization of $334.72 million, a price-to-earnings ratio of 10.07 and a beta of 0.59. The business’s 50-day simple moving average is $48.37 and its 200 day simple moving average is $50.42. Red River Bancshares has a twelve month low of $43.50 and a twelve month high of $58.00.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $27.28 million during the quarter, compared to analysts’ expectations of $25.50 million. Red River Bancshares had a net margin of 22.87% and a return on equity of 11.55%. On average, equities analysts forecast that Red River Bancshares will post 4.49 earnings per share for the current fiscal year.

Red River Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Monday, March 11th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is a boost from Red River Bancshares’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. Red River Bancshares’s payout ratio is 7.68%.

Wall Street Analyst Weigh In

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

Insider Transactions at Red River Bancshares

In other Red River Bancshares news, Director Michael J. Brown acquired 633 shares of the stock in a transaction dated Friday, February 9th. The shares were bought at an average price of $51.65 per share, with a total value of $32,694.45. Following the purchase, the director now directly owns 633 shares of the company’s stock, valued at approximately $32,694.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Michael J. Brown bought 867 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $50.99 per share, with a total value of $44,208.33. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $76,485. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Brown bought 633 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $51.65 per share, for a total transaction of $32,694.45. Following the completion of the transaction, the director now owns 633 shares of the company’s stock, valued at $32,694.45. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 2,304 shares of company stock valued at $120,480 and have sold 1,173 shares valued at $58,732. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of Red River Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of Red River Bancshares by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 19,172 shares of the company’s stock worth $881,000 after buying an additional 224 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Red River Bancshares by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 2,670 shares of the company’s stock worth $150,000 after buying an additional 437 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Red River Bancshares in the fourth quarter worth $224,000. Russell Investments Group Ltd. lifted its stake in shares of Red River Bancshares by 23.0% in the fourth 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 last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Red River Bancshares by 218.1% in the fourth 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 last quarter. 27.55% of the stock is currently owned by institutional investors and hedge funds.

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.