Blue Ridge Bankshares (NASDAQ:BRBS) Shares Down 0.7% – Here’s Why

Blue Ridge Bankshares, Inc. (NASDAQ:BRBS)’s stock price fell 0.7% during mid-day trading on Tuesday . The stock traded as low as $4.26 and last traded at $4.28. 149,004 shares traded hands during trading, an increase of 2% from the average session volume of 145,741 shares. The stock had previously closed at $4.31.

Blue Ridge Bankshares Stock Down 0.7%

The firm has a 50-day moving average price of $4.34 and a two-hundred day moving average price of $4.17. The firm has a market cap of $391.57 million, a price-to-earnings ratio of -6.69 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.06.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BRBS. Wellington Management Group LLP boosted its stake in Blue Ridge Bankshares by 92.9% in the third quarter. Wellington Management Group LLP now owns 4,327,400 shares of the company’s stock valued at $18,305,000 after acquiring an additional 2,083,852 shares in the last quarter. Azora Capital LP lifted its holdings in shares of Blue Ridge Bankshares by 49.3% in the 2nd quarter. Azora Capital LP now owns 4,405,906 shares of the company’s stock valued at $15,817,000 after purchasing an additional 1,454,521 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Blue Ridge Bankshares by 166.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,218,285 shares of the company’s stock valued at $4,374,000 after purchasing an additional 760,305 shares during the period. Two Sigma Investments LP boosted its position in shares of Blue Ridge Bankshares by 513.4% in the 3rd quarter. Two Sigma Investments LP now owns 572,146 shares of the company’s stock valued at $2,420,000 after purchasing an additional 478,876 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in Blue Ridge Bankshares during the 3rd quarter worth approximately $954,000. 50.48% of the stock is owned by hedge funds and other institutional investors.

About Blue Ridge Bankshares

Blue Ridge Bankshares, Inc is a bank holding company headquartered in Fort Valley, Virginia. Through its wholly owned subsidiary, Blue Ridge Bank, it offers a comprehensive suite of commercial and consumer banking services to individuals, businesses and agricultural clients. The company emphasizes a relationship-driven approach, leveraging local knowledge to deliver customized financial solutions.

Its product lineup includes deposit offerings such as checking, savings and money market accounts, as well as certificates of deposit.