Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Increases By 44.6%

Red River Bancshares, Inc. (NASDAQ:RRBI) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 92,521 shares, an increase of 44.6% from the January 15th total of 64,001 shares. Based on an average daily trading volume, of 44,011 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.7% of the company’s shares are short sold. Approximately 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 44,011 shares, the days-to-cover ratio is presently 2.1 days.

Red River Bancshares Stock Down 1.1%

RRBI stock opened at $88.90 on Friday. The firm has a market capitalization of $584.70 million, a PE ratio of 13.91 and a beta of 0.51. Red River Bancshares has a twelve month low of $46.33 and a twelve month high of $93.90. The stock’s 50 day moving average is $77.40 and its 200-day moving average is $69.60.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Friday, January 30th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.10. The business had revenue of $33.19 million during the quarter, compared to analyst estimates of $32.19 million. Red River Bancshares had a return on equity of 12.58% and a net margin of 25.18%. On average, equities research analysts anticipate that Red River Bancshares will post 5.28 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 8th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, December 8th. Red River Bancshares’s dividend payout ratio (DPR) is presently 9.39%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Red River Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in Red River Bancshares by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,160 shares of the company’s stock worth $1,011,000 after acquiring an additional 554 shares during the period. State Street Corp raised its holdings in shares of Red River Bancshares by 0.4% in the 4th 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 period. Ieq Capital LLC purchased a new position in Red River Bancshares in the fourth quarter valued at approximately $306,000. Boston Partners purchased a new position in Red River Bancshares in the fourth quarter valued at approximately $4,117,000. Finally, Wells Fargo & Company MN grew its holdings in Red River Bancshares by 53.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,546 shares of the company’s stock valued at $396,000 after purchasing an additional 1,928 shares during the period. Hedge funds and other institutional investors own 27.55% of the company’s stock.

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.