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

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

Analysts Set New Price Targets

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

Insider Transactions at Red River Bancshares

In other Red River Bancshares news, Director Michael D. Crowell purchased 1,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was bought at an average price of $46.15 per share, with a total value of $46,150.00. Following the acquisition, the director now owns 14,330 shares of the company’s stock, valued at $661,329.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Red River Bancshares news, Director Michael D. Crowell purchased 1,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was bought at an average price of $46.15 per share, with a total value of $46,150.00. Following the acquisition, the director now owns 14,330 shares of the company’s stock, valued at $661,329.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tammi R. Salazar sold 781 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $50.05, for a total value of $39,089.05. Following the transaction, the insider now directly owns 39,901 shares of the company’s stock, valued at approximately $1,997,045.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,151 shares of company stock valued at $57,626. Corporate insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Red River Bancshares

A number of institutional investors have recently made changes to their positions in RRBI. SG Americas Securities LLC grew its position in shares of Red River Bancshares by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 2,670 shares of the company’s stock valued at $150,000 after buying an additional 437 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Red River Bancshares in the 4th quarter valued at about $224,000. BNP Paribas Financial Markets grew its position in shares of Red River Bancshares by 218.1% in the 4th quarter. BNP Paribas Financial Markets now owns 6,299 shares of the company’s stock valued at $353,000 after buying an additional 4,319 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Red River Bancshares in the 1st quarter valued at about $424,000. Finally, Acadian Asset Management LLC grew its position in shares of Red River Bancshares by 108.4% in the 1st quarter. Acadian Asset Management LLC now owns 9,428 shares of the company’s stock valued at $468,000 after buying an additional 4,903 shares during the last quarter. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Trading Down 1.1 %

RRBI traded down $0.50 on Friday, reaching $45.44. The stock had a trading volume of 10,323 shares, compared to its average volume of 6,467. Red River Bancshares has a fifty-two week low of $42.78 and a fifty-two week high of $58.00. The firm has a 50-day moving average of $46.58 and a 200-day moving average of $49.98. The company has a market capitalization of $313.54 million, a price-to-earnings ratio of 9.69 and a beta of 0.61.

Red River Bancshares (NASDAQ:RRBI) last issued its earnings results on Thursday, April 25th. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $26.29 million during the quarter, compared to analysts’ expectations of $26.16 million. Sell-side analysts anticipate that Red River Bancshares will post 4.64 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

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

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.