Short Interest in Redwood Capital Bancorp (OTCMKTS:RWCB) Grows By 169.5%

Redwood Capital Bancorp (OTCMKTS:RWCB) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 353 shares, an increase of 169.5% from the April 15th total of 131 shares. Based on an average daily volume of 2,029 shares, the days-to-cover ratio is currently 0.2 days.

Redwood Capital Bancorp Price Performance

Shares of Redwood Capital Bancorp stock opened at $32.60 on Friday. Redwood Capital Bancorp has a twelve month low of $21.20 and a twelve month high of $33.47. The company’s fifty day moving average is $31.29 and its 200 day moving average is $29.59.

Redwood Capital Bancorp declared that its board has initiated a stock repurchase plan on Wednesday, April 1st that permits the company to repurchase $1.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are 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.