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

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 23,600 shares, a growth of 32.6% from the August 31st total of 17,800 shares. Based on an average trading volume of 9,800 shares, the short-interest ratio is presently 2.4 days. Approximately 0.6% of the shares of the company are short sold.

Insider Buying and Selling at Red River Bancshares

In other news, Director Teddy Ray Price purchased 580 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $53.16 per share, for a total transaction of $30,832.80. Following the completion of the purchase, the director now directly owns 368,058 shares of the company’s stock, valued at approximately $19,565,963.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Red River Bancshares news, Director Teddy Ray Price acquired 580 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $53.16 per share, for a total transaction of $30,832.80. Following the purchase, the director now owns 368,058 shares in the company, valued at approximately $19,565,963.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tammi R. Salazar sold 576 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $50.51, for a total transaction of $29,093.76. Following the transaction, the insider now directly owns 40,325 shares of the company’s stock, valued at $2,036,815.75. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On Red River Bancshares

Several institutional investors have recently added to or reduced their stakes in RRBI. B. Riley Wealth Advisors Inc. bought a new position in Red River Bancshares in the fourth quarter valued at approximately $224,000. BNP Paribas Financial Markets lifted its stake in Red River Bancshares by 218.1% in the fourth quarter. BNP Paribas Financial Markets now owns 6,299 shares of the company’s stock valued at $353,000 after acquiring an additional 4,319 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Red River Bancshares in the 1st quarter valued at about $424,000. Acadian Asset Management LLC increased its stake in shares of Red River Bancshares by 108.4% during the 1st quarter. Acadian Asset Management LLC now owns 9,428 shares of the company’s stock worth $468,000 after purchasing an additional 4,903 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Red River Bancshares by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 11,000 shares of the company’s stock valued at $528,000 after purchasing an additional 700 shares during the period. 27.55% of the stock is owned by institutional investors.

Red River Bancshares Price Performance

Shares of RRBI stock traded up $0.08 during trading hours on Friday, reaching $51.73. 3,095 shares of the company were exchanged, compared to its average volume of 8,616. The stock’s fifty day moving average is $52.02 and its two-hundred day moving average is $49.08. Red River Bancshares has a fifty-two week low of $42.78 and a fifty-two week high of $58.00. The company has a market cap of $356.42 million, a price-to-earnings ratio of 11.03 and a beta of 0.61.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings results on Friday, July 26th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. Red River Bancshares had a return on equity of 10.90% and a net margin of 21.56%. The company had revenue of $26.89 million for the quarter, compared to the consensus estimate of $26.68 million. On average, research analysts anticipate that Red River Bancshares will post 4.68 earnings per share for the current year.

Red River Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Monday, September 9th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Monday, September 9th. 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.