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

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 20,700 shares, a growth of 21.8% from the November 30th total of 17,000 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 11,200 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Trading of Red River Bancshares

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Red River Bancshares by 133.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,763 shares of the company’s stock valued at $456,000 after buying an additional 5,007 shares during the period. Barclays PLC lifted its position in Red River Bancshares by 268.4% in the third quarter. Barclays PLC now owns 6,012 shares of the company’s stock worth $313,000 after purchasing an additional 4,380 shares during the period. Jane Street Group LLC bought a new stake in shares of Red River Bancshares in the 3rd quarter worth $220,000. State Street Corp lifted its holdings in shares of Red River Bancshares by 1.1% in the third quarter. State Street Corp now owns 95,219 shares of the company’s stock valued at $4,951,000 after buying an additional 993 shares during the period. Finally, Martingale Asset Management L P boosted its stake in Red River Bancshares by 17.6% during the third quarter. Martingale Asset Management L P now owns 9,425 shares of the company’s stock valued at $490,000 after buying an additional 1,408 shares in the last quarter. Institutional investors and hedge funds own 27.55% of the company’s stock.

Red River Bancshares Stock Performance

Shares of NASDAQ RRBI traded up $0.41 during midday trading on Tuesday, reaching $53.84. 2,875 shares of the company’s stock were exchanged, compared to its average volume of 9,525. The stock has a market capitalization of $364.87 million, a PE ratio of 11.33 and a beta of 0.62. Red River Bancshares has a 52-week low of $42.78 and a 52-week high of $62.13. The business’s fifty day moving average price is $56.91 and its two-hundred day moving average price is $52.94.

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

Red River Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 9th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Monday, December 9th. Red River Bancshares’s dividend payout ratio is presently 7.58%.

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.