Short Interest in Redwood Capital Bancorp (OTCMKTS:RWCB) Grows By 2,500.0%

Redwood Capital Bancorp (OTCMKTS:RWCB) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 208 shares, an increase of 2,500.0% from the June 15th total of 8 shares. Based on an average daily volume of 2,204 shares, the short-interest ratio is currently 0.1 days.

Redwood Capital Bancorp Stock Performance

Shares of RWCB remained flat at $31.95 during mid-day trading on Friday. Redwood Capital Bancorp has a twelve month low of $22.99 and a twelve month high of $33.47. The stock’s fifty day simple moving average is $32.17 and its 200 day simple moving average is $30.70.

Redwood Capital Bancorp declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 1st that permits the company to repurchase $1.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Redwood Capital Bancorp Company Profile

Redwood Capital Bancorp is the bank holding company for Redwood Capital Bank FSB, a community-oriented financial institution headquartered in Santa Rosa, California. As a federally chartered savings bank, it provides a full range of deposit and lending products to individuals, small businesses, and professional clients, with a focus on personalized service and local decision-making.

The company’s deposit portfolio includes checking and savings accounts, money market funds, and certificates of deposit, all designed to meet the needs of both personal and commercial clients.