Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Rises By 46.1%

Red River Bancshares, Inc. (NASDAQ:RRBI) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 22,200 shares, a growth of 46.1% from the October 15th total of 15,200 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 9,000 shares, the days-to-cover ratio is currently 2.5 days.

Red River Bancshares Price Performance

NASDAQ RRBI traded down $0.18 during mid-day trading on Friday, hitting $58.27. The stock had a trading volume of 6,444 shares, compared to its average volume of 9,330. The firm’s 50 day moving average is $52.69 and its 200 day moving average is $50.35. The stock has a market capitalization of $395.07 million, a price-to-earnings ratio of 12.27 and a beta of 0.61. Red River Bancshares has a twelve month low of $42.78 and a twelve month high of $59.52.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.09. The firm had revenue of $40.32 million for the quarter, compared to the consensus estimate of $27.41 million. Red River Bancshares had a net margin of 21.42% and a return on equity of 10.76%. As a group, equities research analysts expect that Red River Bancshares will post 4.64 earnings per share for the current year.

Red River Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be given a $0.09 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.62%. Red River Bancshares’s dividend payout ratio (DPR) is presently 7.58%.

Institutional Investors Weigh In On Red River Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in RRBI. FMR LLC grew its holdings in Red River Bancshares by 140.5% in the 3rd quarter. FMR LLC now owns 2,128 shares of the company’s stock valued at $111,000 after buying an additional 1,243 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Red River Bancshares in the third quarter valued at about $220,000. Barclays PLC increased its position in Red River Bancshares by 268.4% during the third 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. Duncan Williams Asset Management LLC purchased a new position in Red River Bancshares during the third quarter worth about $390,000. Finally, GSA Capital Partners LLP acquired a new position in Red River Bancshares in the 3rd quarter valued at about $409,000. Institutional investors and hedge funds own 27.55% of the company’s stock.

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.