Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Drops By 38.6%

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 13,700 shares, a drop of 38.6% from the July 31st total of 22,300 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 9,600 shares, the short-interest ratio is currently 1.4 days.

Red River Bancshares Stock Down 2.7 %

Shares of RRBI stock traded down $1.48 during trading hours on Wednesday, hitting $52.90. 4,231 shares of the company were exchanged, compared to its average volume of 9,053. The firm has a market cap of $365.17 million, a PE ratio of 11.28 and a beta of 0.63. The firm has a fifty day moving average of $50.53 and a 200 day moving average of $48.74. Red River Bancshares has a 1 year low of $42.78 and a 1 year high of $58.00.

Red River Bancshares (NASDAQ:RRBI) last issued its earnings results on Friday, July 26th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The company had revenue of $26.89 million for the quarter, compared to the consensus estimate of $26.68 million. Red River Bancshares had a return on equity of 10.90% and a net margin of 21.56%. Analysts expect that Red River Bancshares will post 4.68 earnings per share for the current year.

Red River Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Monday, September 9th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Monday, September 9th. Red River Bancshares’s payout ratio is presently 7.68%.

Insiders Place Their Bets

In other Red River Bancshares news, Director Michael D. Crowell purchased 1,000 shares of Red River Bancshares stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average price of $45.88 per share, for a total transaction of $45,880.00. Following the completion of the transaction, the director now owns 16,350 shares of the company’s stock, valued at approximately $750,138. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Michael D. Crowell bought 1,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were acquired at an average price of $45.88 per share, with a total value of $45,880.00. Following the transaction, the director now owns 16,350 shares of the company’s stock, valued at $750,138. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tammi R. Salazar sold 576 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $50.51, for a total transaction of $29,093.76. Following the transaction, the insider now owns 40,325 shares of the company’s stock, valued at $2,036,815.75. The disclosure for this sale can be found here. Over the last three months, insiders have bought 2,580 shares of company stock valued at $122,863. Insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On Red River Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Red River Bancshares by 0.6% during the first quarter. Vanguard Group Inc. now owns 225,360 shares of the company’s stock worth $11,221,000 after acquiring an additional 1,440 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Red River Bancshares by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 71,660 shares of the company’s stock valued at $3,439,000 after buying an additional 4,960 shares during the period. Bank of New York Mellon Corp raised its holdings in Red River Bancshares by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 24,611 shares of the company’s stock valued at $1,181,000 after buying an additional 1,690 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Red River Bancshares by 5.6% during the first quarter. Russell Investments Group Ltd. now owns 22,919 shares of the company’s stock valued at $1,141,000 after purchasing an additional 1,224 shares in the last quarter. Finally, Creative Planning purchased a new stake in Red River Bancshares during the 2nd quarter valued at about $770,000. 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.