Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Update

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 19,500 shares, a decrease of 19.1% from the March 15th total of 24,100 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,000 shares, the short-interest ratio is presently 1.8 days.

Institutional Trading of Red River Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its position in Red River Bancshares by 138.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,146 shares of the company’s stock valued at $62,000 after acquiring an additional 666 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Red River Bancshares during the fourth quarter valued at approximately $106,000. SG Americas Securities LLC acquired a new stake in shares of Red River Bancshares in the fourth quarter valued at approximately $109,000. FMR LLC lifted its holdings in Red River Bancshares by 140.5% during the 3rd quarter. FMR LLC now owns 2,128 shares of the company’s stock worth $111,000 after buying an additional 1,243 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Red River Bancshares by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,695 shares of the company’s stock valued at $145,000 after acquiring an additional 587 shares during the period. 27.55% of the stock is currently owned by institutional investors and hedge funds.

Red River Bancshares Trading Down 0.8 %

Shares of Red River Bancshares stock traded down $0.40 during mid-day trading on Monday, reaching $49.51. 4,762 shares of the stock were exchanged, compared to its average volume of 9,820. Red River Bancshares has a fifty-two week low of $42.78 and a fifty-two week high of $62.13. The company has a market cap of $335.58 million, a price-to-earnings ratio of 9.98 and a beta of 0.47. The firm has a 50-day simple moving average of $52.87 and a 200 day simple moving average of $54.34.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.37 earnings per share for the quarter, topping 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%. On average, research analysts predict that Red River Bancshares will post 5.28 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 20th. Shareholders of record on Monday, March 10th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. This is a positive change from Red River Bancshares’s previous quarterly dividend of $0.09. Red River Bancshares’s payout ratio is currently 9.68%.

Analyst Upgrades and Downgrades

Separately, Raymond James began coverage on Red River Bancshares in a research report on Tuesday, April 8th. They issued an “outperform” rating and a $57.00 price target on the stock.

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.