Red River Bancshares Inc (NASDAQ:RRBI) Sees Large Increase in Short Interest

Red River Bancshares Inc (NASDAQ:RRBI) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 60,000 shares, an increase of 71.4% from the June 15th total of 35,000 shares. Based on an average daily volume of 21,400 shares, the short-interest ratio is currently 2.8 days. Approximately 1.3% of the company’s stock are short sold.

Shares of NASDAQ:RRBI traded down $0.87 on Tuesday, hitting $41.43. 14 shares of the company were exchanged, compared to its average volume of 38,527. Red River Bancshares has a 1-year low of $29.90 and a 1-year high of $59.00. The stock’s 50 day moving average price is $41.08 and its 200 day moving average price is $45.38. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $309.08 million, a P/E ratio of 11.92 and a beta of 1.15.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.10. Red River Bancshares had a net margin of 28.18% and a return on equity of 10.36%. The business had revenue of $20.82 million during the quarter. On average, equities analysts predict that Red River Bancshares will post 3.13 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.58%. Red River Bancshares’s payout ratio is currently 6.88%.

Several brokerages have weighed in on RRBI. BidaskClub upgraded shares of Red River Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, June 26th. ValuEngine downgraded shares of Red River Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, April 17th. Zacks Investment Research downgraded shares of Red River Bancshares from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 10th. Finally, Stephens upgraded shares of Red River Bancshares from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 12th.

In other Red River Bancshares news, Director Teddy Ray Price acquired 5,753 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average cost of $37.07 per share, for a total transaction of $213,263.71. 21.80% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in shares of Red River Bancshares by 527.4% during the first quarter. Tower Research Capital LLC TRC now owns 709 shares of the company’s stock worth $27,000 after buying an additional 596 shares during the period. Bank of Montreal Can purchased a new position in shares of Red River Bancshares during the fourth quarter worth $35,000. Royal Bank of Canada raised its holdings in shares of Red River Bancshares by 171.1% during the first quarter. Royal Bank of Canada now owns 1,266 shares of the company’s stock worth $47,000 after purchasing an additional 799 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Red River Bancshares by 792.2% during the fourth quarter. Victory Capital Management Inc. now owns 919 shares of the company’s stock worth $49,000 after purchasing an additional 816 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Red River Bancshares by 30.2% during the first quarter. BNP Paribas Arbitrage SA now owns 1,516 shares of the company’s stock worth $56,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 13.93% of the company’s stock.

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 businesses, professionals, individuals, and public entities in Louisiana. It provides consumer checking accounts, money market accounts, and time deposits; real estate loans, commercial loans, treasury management services; and private banking services, residential mortgage lending, and investment services.

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