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

Red River Bancshares, Inc. (NASDAQ:RRBI) was the recipient of a large increase in short interest in February. As of February 27th, there was short interest totaling 119,199 shares, an increase of 17.1% from the February 12th total of 101,822 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 41,809 shares, the short-interest ratio is currently 2.9 days. Based on an average trading volume of 41,809 shares, the short-interest ratio is currently 2.9 days. Approximately 2.2% of the shares of the company are short sold.

Institutional Trading of Red River Bancshares

Institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in Red River Bancshares during the first quarter worth $26,000. Clearstead Advisors LLC boosted its stake in shares of Red River Bancshares by 4,015.4% in the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after purchasing an additional 522 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Red River Bancshares by 258.0% in the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock valued at $66,000 after purchasing an additional 681 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Red River Bancshares by 534.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock worth $74,000 after purchasing an additional 1,064 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Red River Bancshares by 54.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after purchasing an additional 571 shares during the last quarter. Institutional investors and hedge funds own 27.55% of the company’s stock.

Red River Bancshares Stock Down 2.4%

NASDAQ RRBI opened at $86.67 on Thursday. Red River Bancshares has a twelve month low of $46.33 and a twelve month high of $93.90. The stock has a market cap of $570.29 million, a P/E ratio of 13.56 and a beta of 0.48. The company’s 50-day simple moving average is $84.57 and its 200 day simple moving average is $73.74.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings results on Friday, January 30th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. The firm had revenue of $33.19 million during the quarter, compared to analysts’ expectations of $32.19 million. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. Research analysts anticipate that Red River Bancshares will post 5.28 earnings per share for the current year.

Red River Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be given a dividend of $0.25 per share. This is a boost from Red River Bancshares’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, March 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Red River Bancshares’s dividend payout ratio is 15.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RRBI. Zacks Research raised Red River Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, Red River Bancshares has a consensus rating of “Buy” and an average price target of $67.00.

About Red River Bancshares

Red River Bancshares, Inc is a bank holding company headquartered in Alexandria, Louisiana, operating through its principal subsidiary, Red River Bank. Established in 1998, the company provides a full range of commercial banking services designed to meet the needs of individuals, small to mid-size businesses, and nonprofit organizations. Red River Bank has built its reputation on personalized customer service and a commitment to supporting economic growth within its service area.

The company’s core offerings include commercial and industrial lending, real estate financing, consumer and residential mortgage loans, and deposit products such as checking, savings, money market accounts and certificates of deposit.