Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Up 29.9% in August

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 17,800 shares, a growth of 29.9% from the August 15th total of 13,700 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average trading volume of 9,400 shares, the days-to-cover ratio is presently 1.9 days.

Red River Bancshares Stock Performance

RRBI traded down $0.69 during mid-day trading on Monday, reaching $52.10. 2,569 shares of the stock were exchanged, compared to its average volume of 8,860. The stock has a market capitalization of $358.97 million, a PE ratio of 11.26 and a beta of 0.61. The company has a 50 day moving average price of $51.56 and a two-hundred day moving average price of $48.86. Red River Bancshares has a 1 year low of $42.78 and a 1 year high of $58.00.

Red River Bancshares (NASDAQ:RRBI) last issued its earnings results on Friday, July 26th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. The business had revenue of $26.89 million during the quarter, compared to the consensus estimate of $26.68 million. Red River Bancshares had a return on equity of 10.90% and a net margin of 21.56%. Sell-side analysts expect that Red River Bancshares will post 4.68 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Monday, September 9th will be given a dividend of $0.09 per share. The ex-dividend date is Monday, September 9th. This represents a $0.36 annualized dividend and a yield of 0.69%. Red River Bancshares’s payout ratio is 7.68%.

Insiders Place Their Bets

In other Red River Bancshares news, insider Tammi R. Salazar sold 576 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $50.51, for a total transaction of $29,093.76. Following the transaction, the insider now owns 40,325 shares of the company’s stock, valued at approximately $2,036,815.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Tammi R. Salazar sold 576 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $50.51, for a total transaction of $29,093.76. Following the transaction, the insider now directly owns 40,325 shares of the company’s stock, valued at $2,036,815.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teddy Ray Price acquired 580 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $53.16 per share, with a total value of $30,832.80. Following the completion of the acquisition, the director now directly owns 368,058 shares in the company, valued at $19,565,963.28. The disclosure for this purchase can be found here. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of Red River Bancshares

A number of institutional investors have recently modified their holdings of RRBI. B. Riley Wealth Advisors Inc. bought a new stake in Red River Bancshares during the 4th quarter valued at about $224,000. BNP Paribas Financial Markets boosted its stake in Red River Bancshares by 218.1% in the 4th quarter. BNP Paribas Financial Markets now owns 6,299 shares of the company’s stock worth $353,000 after purchasing an additional 4,319 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Red River Bancshares in the first quarter worth about $424,000. Acadian Asset Management LLC raised 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 valued at $468,000 after buying an additional 4,903 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Red River Bancshares by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 11,000 shares of the company’s stock valued at $528,000 after purchasing an additional 700 shares during the last quarter. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

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.