Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Declines By 24.7%

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 13,700 shares, a decrease of 24.7% from the March 31st total of 18,200 shares. Based on an average daily volume of 9,300 shares, the short-interest ratio is currently 1.5 days. Approximately 0.3% of the company’s stock are sold short.

Red River Bancshares Stock Down 4.1 %

Shares of RRBI traded down $1.91 during mid-day trading on Tuesday, reaching $45.21. 8,572 shares of the company’s stock were exchanged, compared to its average volume of 9,383. Red River Bancshares has a 52-week low of $43.50 and a 52-week high of $58.00. The company has a 50-day simple moving average of $48.19 and a two-hundred day simple moving average of $50.42. The company has a market cap of $320.54 million, a price-to-earnings ratio of 9.64 and a beta of 0.59.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $27.28 million during the quarter, compared to the consensus estimate of $25.50 million. Red River Bancshares had a net margin of 22.87% and a return on equity of 11.55%. As a group, equities research analysts predict that Red River Bancshares will post 4.49 EPS for the current fiscal year.

Red River Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were given a $0.09 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Red River Bancshares’s previous quarterly dividend of $0.08. Red River Bancshares’s payout ratio is currently 7.68%.

Analyst Upgrades and Downgrades

Separately, TheStreet cut shares of Red River Bancshares from a “b” rating to a “c+” rating in a research note on Monday, March 4th.

Insider Buying and Selling at Red River Bancshares

In related news, Director Teddy Ray Price acquired 804 shares of Red River Bancshares stock in a transaction dated Friday, February 2nd. The stock was acquired at an average price of $54.20 per share, for a total transaction of $43,576.80. Following the transaction, the director now owns 366,740 shares of the company’s stock, valued at $19,877,308. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Teddy Ray Price acquired 804 shares of Red River Bancshares stock in a transaction on Friday, February 2nd. The stock was bought at an average price of $54.20 per share, for a total transaction of $43,576.80. Following the completion of the purchase, the director now owns 366,740 shares in the company, valued at $19,877,308. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tammi R. Salazar sold 781 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $50.05, for a total transaction of $39,089.05. Following the sale, the insider now owns 39,901 shares of the company’s stock, valued at approximately $1,997,045.05. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 2,304 shares of company stock worth $120,480 and have sold 1,173 shares worth $58,732. 16.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Red River Bancshares

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Red River Bancshares by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 19,172 shares of the company’s stock worth $881,000 after purchasing an additional 224 shares during the last quarter. SG Americas Securities LLC raised its holdings in Red River Bancshares by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 2,670 shares of the company’s stock valued at $150,000 after buying an additional 437 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Red River Bancshares during the fourth quarter worth approximately $224,000. Russell Investments Group Ltd. raised its stake in shares of Red River Bancshares by 23.0% in the 4th quarter. Russell Investments Group Ltd. now owns 21,695 shares of the company’s stock valued at $1,217,000 after acquiring an additional 4,052 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Red River Bancshares by 218.1% during the 4th quarter. BNP Paribas Financial Markets now owns 6,299 shares of the company’s stock worth $353,000 after purchasing an additional 4,319 shares during the period. 27.55% of the stock is currently owned by institutional investors and hedge funds.

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.