Red River Bancshares, Inc. (NASDAQ:RRBI) Sees Large Growth in Short Interest

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 24,100 shares, an increase of 21.7% from the February 28th total of 19,800 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 11,100 shares, the short-interest ratio is presently 2.2 days.

Red River Bancshares Price Performance

RRBI traded down $3.45 during trading on Thursday, reaching $48.88. 1,483 shares of the stock traded hands, compared to its average volume of 9,876. The stock’s 50-day simple moving average is $54.77 and its two-hundred day simple moving average is $54.57. Red River Bancshares has a fifty-two week low of $42.78 and a fifty-two week high of $62.13. The stock has a market cap of $331.31 million, a price-to-earnings ratio of 9.85 and a beta of 0.65.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.14. Red River Bancshares had a return on equity of 11.04% and a net margin of 21.71%. Research analysts anticipate that Red River Bancshares will post 5.28 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 20th. Shareholders of record on Monday, March 10th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Red River Bancshares’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. Red River Bancshares’s payout ratio is 9.68%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RRBI. Charles Schwab Investment Management Inc. lifted its stake in shares of Red River Bancshares by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,043 shares of the company’s stock valued at $678,000 after purchasing an additional 349 shares during the last quarter. FMR LLC lifted its position in shares of Red River Bancshares by 140.5% in the third quarter. FMR LLC now owns 2,128 shares of the company’s stock worth $111,000 after buying an additional 1,243 shares during the last quarter. Martingale Asset Management L P lifted its position in shares of Red River Bancshares by 17.6% in the third quarter. Martingale Asset Management L P now owns 9,425 shares of the company’s stock worth $490,000 after buying an additional 1,408 shares during the last quarter. State Street Corp boosted its stake in shares of Red River Bancshares by 1.1% during the 3rd quarter. State Street Corp now owns 95,219 shares of the company’s stock worth $4,951,000 after acquiring an additional 993 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Red River Bancshares during the 3rd quarter valued at about $220,000. Institutional investors and hedge funds own 27.55% 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 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.