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

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 20,700 shares, an increase of 21.8% from the November 30th total of 17,000 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 11,200 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Investors Weigh In On Red River Bancshares

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew 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 acquiring an additional 5,007 shares in the last quarter. Barclays PLC boosted its holdings in shares of Red River Bancshares by 268.4% during the 3rd 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 last quarter. Jane Street Group LLC purchased a new stake in shares of Red River Bancshares in the third quarter valued at approximately $220,000. State Street Corp increased 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 purchasing an additional 993 shares during the last quarter. Finally, Martingale Asset Management L P lifted its position 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 worth $490,000 after buying an additional 1,408 shares in the last quarter. 27.55% of the stock is currently owned by institutional investors and hedge funds.

Red River Bancshares Stock Performance

Shares of RRBI stock traded up $0.55 on Tuesday, reaching $53.98. 6,077 shares of the company were exchanged, compared to its average volume of 9,538. Red River Bancshares has a 1 year low of $42.78 and a 1 year high of $62.13. The company has a market cap of $365.82 million, a price-to-earnings ratio of 11.36 and a beta of 0.62. The business has a 50-day moving average price of $56.91 and a 200 day moving average price of $52.94.

Red River Bancshares (NASDAQ:RRBI) last released its earnings results on Wednesday, October 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.09. Red River Bancshares had a return on equity of 10.76% and a net margin of 21.42%. The business had revenue of $40.32 million for the quarter, compared to the consensus estimate of $27.41 million. As a group, equities analysts anticipate that Red River Bancshares will post 4.79 earnings per share for the current year.

Red River Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Monday, December 9th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, December 9th. Red River Bancshares’s payout ratio is 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.