Red River Bancshares, Inc. (NASDAQ:RRBI) Sees Large Increase in Short Interest

Red River Bancshares, Inc. (NASDAQ:RRBI) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 261,285 shares, an increase of 85.2% from the June 15th total of 141,079 shares. Based on an average daily trading volume, of 112,974 shares, the short-interest ratio is currently 2.3 days. Approximately 4.8% of the company’s stock are sold short.

Institutional Investors Weigh In On Red River Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in RRBI. Wellington Management Group LLP lifted its position in Red River Bancshares by 345.1% in the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after acquiring an additional 222,401 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Red River Bancshares by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 240,722 shares of the company’s stock worth $15,604,000 after purchasing an additional 769 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Red River Bancshares by 12.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 125,314 shares of the company’s stock worth $11,333,000 after purchasing an additional 13,866 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Red River Bancshares by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 113,509 shares of the company’s stock worth $8,110,000 after purchasing an additional 2,722 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Red River Bancshares by 0.4% in the fourth quarter. State Street Corp now owns 99,742 shares of the company’s stock worth $7,125,000 after purchasing an additional 404 shares during the last quarter. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Price Performance

RRBI opened at $97.73 on Friday. The firm has a market cap of $643.55 million, a PE ratio of 14.63 and a beta of 0.42. The stock has a 50-day moving average price of $91.97 and a 200-day moving average price of $88.34. Red River Bancshares has a 1 year low of $58.12 and a 1 year high of $100.52.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.69 by $0.12. The company had revenue of $32.94 million for the quarter, compared to the consensus estimate of $33.03 million. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. As a group, sell-side analysts anticipate that Red River Bancshares will post 7.26 EPS for the current year.

Red River Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, June 8th. Red River Bancshares’s dividend payout ratio is currently 14.97%.

Wall Street Analyst Weigh In

RRBI has been the subject of several research reports. Raymond James Financial started coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They issued a “market perform” rating for the company. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings downgraded shares of Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Finally, Stephens lowered shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 target price for the company. in a report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $80.50.

Red River Bancshares Company Profile

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.