Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Increases By 29.9%

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 17,800 shares, an increase of 29.9% from the August 15th total of 13,700 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 9,400 shares, the short-interest ratio is currently 1.9 days.

Insider Activity at Red River Bancshares

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

Institutional Investors Weigh In On Red River Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in Red River Bancshares by 23.0% during the 4th quarter. Russell Investments Group Ltd. now owns 21,695 shares of the company’s stock worth $1,217,000 after purchasing an additional 4,052 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Red River Bancshares by 218.1% during the 4th quarter. BNP Paribas Financial Markets now owns 6,299 shares of the company’s stock valued at $353,000 after acquiring an additional 4,319 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Red River Bancshares during the fourth quarter valued at approximately $224,000. Vanguard Group Inc. raised its holdings in Red River Bancshares by 0.6% during the first quarter. Vanguard Group Inc. now owns 225,360 shares of the company’s stock valued at $11,221,000 after buying an additional 1,440 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Red River Bancshares by 108.4% during the first quarter. Acadian Asset Management LLC now owns 9,428 shares of the company’s stock valued at $468,000 after purchasing an additional 4,903 shares during the last quarter. Institutional investors and hedge funds own 27.55% of the company’s stock.

Red River Bancshares Price Performance

Shares of Red River Bancshares stock traded down $0.69 during trading hours on Monday, reaching $52.10. The company’s stock had a trading volume of 2,569 shares, compared to its average volume of 8,860. Red River Bancshares has a one year low of $42.78 and a one year high of $58.00. The firm has a 50 day moving average price of $51.56 and a 200-day moving average price of $48.86. The stock has a market cap of $358.97 million, a P/E ratio of 11.26 and a beta of 0.61.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data 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. The firm had revenue of $26.89 million during the quarter, compared to analysts’ expectations of $26.68 million. Red River Bancshares had a return on equity of 10.90% and a net margin of 21.56%. As a group, sell-side analysts forecast that Red River Bancshares will post 4.68 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Monday, September 9th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.69%. The ex-dividend date is Monday, September 9th. Red River Bancshares’s dividend payout ratio (DPR) is presently 7.68%.

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.