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

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 19,600 shares, a growth of 34.2% from the May 15th total of 14,600 shares. Based on an average trading volume of 7,700 shares, the days-to-cover ratio is presently 2.5 days. Currently, 0.5% of the company’s stock are sold short.

Red River Bancshares Price Performance

NASDAQ:RRBI traded down $0.50 during midday trading on Friday, reaching $45.44. The stock had a trading volume of 10,323 shares, compared to its average volume of 8,613. The stock has a market capitalization of $313.54 million, a P/E ratio of 9.69 and a beta of 0.61. Red River Bancshares has a 1-year low of $42.78 and a 1-year high of $58.00. The firm’s fifty day simple moving average is $46.58 and its 200-day simple moving average is $49.98.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.11. Red River Bancshares had a return on equity of 11.46% and a net margin of 22.87%. The company had revenue of $26.29 million for the quarter, compared to the consensus estimate of $26.16 million. On average, equities research analysts anticipate that Red River Bancshares will post 4.64 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be given a $0.09 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.36 annualized dividend and a dividend yield of 0.79%. Red River Bancshares’s dividend payout ratio is 7.68%.

Insider Transactions at Red River Bancshares

In other news, Director Michael D. Crowell bought 1,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were purchased at an average price of $46.15 per share, for a total transaction of $46,150.00. Following the completion of the purchase, the director now directly owns 14,330 shares of the company’s stock, valued at approximately $661,329.50. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, insider Tammi R. Salazar sold 781 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $50.05, for a total transaction of $39,089.05. Following the transaction, the insider now owns 39,901 shares in the company, valued at approximately $1,997,045.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael D. Crowell acquired 1,000 shares of Red River Bancshares stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average cost of $46.15 per share, with a total value of $46,150.00. Following the purchase, the director now owns 14,330 shares in the company, valued at approximately $661,329.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 1,151 shares of company stock valued at $57,626. 16.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Red River Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of RRBI. SG Americas Securities LLC boosted its position in shares of Red River Bancshares by 19.6% during the 4th quarter. SG Americas Securities LLC now owns 2,670 shares of the company’s stock valued at $150,000 after acquiring an additional 437 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Red River Bancshares during the fourth quarter valued at approximately $224,000. BNP Paribas Financial Markets grew its stake in shares of Red River Bancshares by 218.1% in the 4th quarter. BNP Paribas Financial Markets now owns 6,299 shares of the company’s stock valued at $353,000 after purchasing an additional 4,319 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Red River Bancshares in the 1st quarter worth approximately $424,000. Finally, Acadian Asset Management LLC lifted its position in shares of Red River Bancshares by 108.4% during the 1st quarter. Acadian Asset Management LLC now owns 9,428 shares of the company’s stock worth $468,000 after buying an additional 4,903 shares during the period. Institutional investors own 27.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TheStreet downgraded Red River Bancshares from a “b” rating to a “c+” rating in a research note on Monday, March 4th.

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.