Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Down 20.1% in February

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a large drop in short interest in February. As of February 15th, there was short interest totalling 17,100 shares, a drop of 20.1% from the January 31st total of 21,400 shares. Based on an average daily volume of 11,900 shares, the short-interest ratio is presently 1.4 days. Currently, 0.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Red River Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in Red River Bancshares by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,043 shares of the company’s stock worth $678,000 after buying an additional 349 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Red River Bancshares by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 21,321 shares of the company’s stock valued at $1,151,000 after purchasing an additional 482 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Red River Bancshares by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 2,695 shares of the company’s stock valued at $145,000 after purchasing an additional 587 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Red River Bancshares by 138.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,146 shares of the company’s stock valued at $62,000 after buying an additional 666 shares during the period. Finally, Barclays PLC raised its holdings in shares of Red River Bancshares by 14.9% during the fourth quarter. Barclays PLC now owns 6,905 shares of the company’s stock valued at $373,000 after acquiring an additional 893 shares in the last quarter. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

Red River Bancshares Stock Up 0.1 %

RRBI stock traded up $0.03 during midday trading on Tuesday, reaching $55.05. 1,721 shares of the company’s stock traded hands, compared to its average volume of 11,881. The company has a market cap of $373.07 million, a price-to-earnings ratio of 11.07 and a beta of 0.63. The firm’s fifty day moving average price is $54.67 and its 200-day moving average price is $54.42. Red River Bancshares has a 52 week low of $42.78 and a 52 week high of $62.13.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.14. Red River Bancshares had a net margin of 21.71% and a return on equity of 11.04%. Analysts forecast that Red River Bancshares will post 5.28 earnings per share for the current year.

Red River Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a $0.12 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Red River Bancshares’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 0.87%. Red River Bancshares’s dividend payout ratio is currently 7.26%.

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.