Redwood Capital Bancorp (OTCMKTS:RWCB) Short Interest Up ? in June

Redwood Capital Bancorp (OTCMKTS:RWCB) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 8 shares, an increase of ? from the May 31st total of 0 shares. Based on an average daily trading volume, of 1,551 shares, the days-to-cover ratio is presently 0.0 days.

Redwood Capital Bancorp Stock Performance

Shares of RWCB opened at $32.00 on Wednesday. Redwood Capital Bancorp has a 1-year low of $22.20 and a 1-year high of $33.47. The firm has a 50-day simple moving average of $32.20 and a two-hundred day simple moving average of $30.56.

Redwood Capital Bancorp declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 1st that authorizes the company to repurchase $1.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

About Redwood Capital Bancorp

Redwood Capital Bancorp is the bank holding company for Redwood Capital Bank FSB, a community-oriented financial institution headquartered in Santa Rosa, California. As a federally chartered savings bank, it provides a full range of deposit and lending products to individuals, small businesses, and professional clients, with a focus on personalized service and local decision-making.

The company’s deposit portfolio includes checking and savings accounts, money market funds, and certificates of deposit, all designed to meet the needs of both personal and commercial clients.