Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Up 33.6% in January

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 64,001 shares, an increase of 33.6% from the December 31st total of 47,914 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily volume of 40,523 shares, the short-interest ratio is presently 1.6 days. Based on an average daily volume of 40,523 shares, the short-interest ratio is presently 1.6 days. Approximately 1.2% of the shares of the stock are short sold.

Red River Bancshares Stock Performance

RRBI stock opened at $88.98 on Wednesday. The company has a market capitalization of $585.49 million, a PE ratio of 13.92 and a beta of 0.51. Red River Bancshares has a one year low of $46.33 and a one year high of $90.46. The company’s 50 day moving average price is $74.21 and its two-hundred day moving average price is $68.06.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Friday, January 30th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.10. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.58%. The company had revenue of $33.19 million during the quarter, compared to analysts’ expectations of $32.19 million. On average, research analysts predict that Red River Bancshares will post 5.28 EPS for the current year.

Red River Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Monday, December 8th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, December 8th. Red River Bancshares’s dividend payout ratio (DPR) is 9.39%.

Analysts Set New Price Targets

Several brokerages have issued reports on RRBI. Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Institutional Investors Weigh In On Red River Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of RRBI. CWM LLC grew its position in Red River Bancshares by 36.3% during the 4th quarter. CWM LLC now owns 2,740 shares of the company’s stock worth $196,000 after acquiring an additional 730 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Red River Bancshares by 258.0% during the fourth quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock valued at $66,000 after purchasing an additional 681 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Red River Bancshares by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 4,328 shares of the company’s stock valued at $281,000 after purchasing an additional 1,164 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Red River Bancshares by 2.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock worth $670,000 after purchasing an additional 200 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Red River Bancshares by 5.8% in the third quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock worth $351,000 after buying an additional 296 shares during the period. Institutional investors own 27.55% of the company’s stock.

About Red River Bancshares

Red River Bancshares, Inc is a bank holding company headquartered in Alexandria, Louisiana, operating through its principal subsidiary, Red River Bank. Established in 1998, the company provides a full range of commercial banking services designed to meet the needs of individuals, small to mid-size businesses, and nonprofit organizations. Red River Bank has built its reputation on personalized customer service and a commitment to supporting economic growth within its service area.

The company’s core offerings include commercial and industrial lending, real estate financing, consumer and residential mortgage loans, and deposit products such as checking, savings, money market accounts and certificates of deposit.