Red River Bancshares, Inc. (NASDAQ:RRBI) is seeing a significant increase in short interest

VaselineSeptember 29, 2024

0 4 minutes read

Red River Bancshares, Inc. (NASDAQ:RRBI – Get Free Report ) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 23,600 shares, an increase of 32.6% from August 31st’s total of 17,800 shares. Based on an average daily volume of 9,800 shares, the days-to-cover ratio is currently 2.4 days. About 0.6% of the company’s shares are short sold.

Insider buying and selling

In other news, insider Tammi R. Salazar sold 576 shares of Red River Bancshares stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $50.51, for a total transaction of $29,093.76. Following the completion of the transaction, the insider now directly owns 40,325 shares in the company, valued at $2,036,815.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In related news, Director Teddy Ray Price purchased 580 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $53.16 per share, for a total transaction of $30,832.80. Following the completion of the transaction, the director now directly owns 368,058 shares in the company, valued at approximately $19,565,963.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tammi R. Salazar sold 576 shares of Red River Bancshares 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 sale, the insider now directly owns 40,325 shares of the company’s stock, valued at $2,036,815.75. The disclosure for this sale can be found here. 16.40% of the shares are owned by company insiders.

Institutional Trading of Red River Bancshars Shares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning acquired a new position in shares of Red River Bancshares in the second quarter valued at $770,000. Renaissance Technologies LLC raised its position in shares of Red River Bancshares by 6.8% in the second quarter. Renaissance Technologies LLC now owns 11,000 shares of the company’s stock valued at $528,000 after acquiring an additional 700 shares during the period. 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 acquiring an additional 4,960 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Red River Bancshares by 42.3% in the second quarter. Acadian Asset Management LLC now owns 13,417 shares of the company’s stock worth $642,000 after buying an additional 3,989 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Red River Bancshares by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 24,611 shares of the company’s stock worth $1,181,000 after purchasing an additional 1,690 shares in the last quarter. Institutional investors own 27.55% of the company’s shares.

Red River Bancshares Price Performance

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Shares of RRBI traded up $0.08 during mid-day trading on Friday, hitting $51.73. 3,095 shares of the stock exchanged hands, compared to its average volume of 8,616. The stock has a market cap of $356.42 million, a price-to-earnings ratio of 11.03 and a beta of 0.61. The company has a fifty day moving average price of $52.02 and a 200 day moving average price of $49.08. Red River Bancshares has a 12-month low of $42.78 and a 12-month high of $58.00.

Red River Bancshares (NASDAQ:RRBI – Get Free Report ) last posted its earnings results on Friday, July 26th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.04. Red River Bancshares had a return on equity of 10.90% and a net margin of 21.56%. The business had revenue of $26.89 million during the quarter, compared to analyst estimates of $26.68 million. As a group, equities analysts predict that Red River Bancshares will post 4.68 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Monday, September 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, September 9. This represents an annualized dividend of $0.36 and a yield of 0.70%. Red River Bancshares’ payout ratio is 7.68%.

About Red River Bancshares

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Red River Bancshares, Inc operates as the bank holding company for Red River Bank, which provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, savings, money market and term deposits. Offers commercial real estate loans; one to four family home mortgages and home equity lines of credit; loans for construction and development; commercial and industrial loans; Small Business Administration Payroll Protection Program loans; tax-exempt loans; consumer loans granted to individuals for personal, family and household purposes, including secured and unsecured loans and term loans; home mortgage loans; and standby lines of credit and letters of credit.