Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Decreases By 19.1%

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 19,500 shares, a drop of 19.1% from the March 15th total of 24,100 shares. Based on an average trading volume of 11,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.5% of the company’s shares are sold short.

Red River Bancshares Trading Up 0.5 %

RRBI stock opened at $49.91 on Friday. Red River Bancshares has a 1-year low of $42.78 and a 1-year high of $62.13. The business’s 50-day moving average price is $52.87 and its two-hundred day moving average price is $54.31. The firm has a market cap of $338.29 million, a PE ratio of 10.06 and a beta of 0.47.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Tuesday, February 4th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.14. Red River Bancshares had a return on equity of 11.04% and a net margin of 21.71%. On average, analysts forecast 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 was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Red River Bancshares’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. Red River Bancshares’s dividend payout ratio is presently 9.68%.

Wall Street Analyst Weigh In

Separately, Raymond James started coverage on shares of Red River Bancshares in a research note on Tuesday, April 8th. They issued an “outperform” rating and a $57.00 target price for the company.

Institutional Trading of Red River Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of RRBI. JPMorgan Chase & Co. raised its position in Red River Bancshares by 101.5% in the 4th quarter. JPMorgan Chase & Co. now owns 17,658 shares of the company’s stock valued at $953,000 after buying an additional 8,895 shares during the last quarter. Millennium Management LLC lifted its position in shares of Red River Bancshares by 50.4% in the fourth quarter. Millennium Management LLC now owns 21,883 shares of the company’s stock worth $1,181,000 after purchasing an additional 7,334 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Red River Bancshares by 67.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,871 shares of the company’s stock worth $749,000 after purchasing an additional 5,587 shares during the last quarter. Citadel Advisors LLC grew its position in Red River Bancshares by 40.6% in the fourth quarter. Citadel Advisors LLC now owns 18,630 shares of the company’s stock valued at $1,006,000 after purchasing an additional 5,381 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Red River Bancshares by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 84,557 shares of the company’s stock valued at $4,564,000 after buying an additional 5,346 shares during the last quarter. Institutional investors and hedge funds own 27.55% of the company’s stock.

Red River Bancshares Company Profile

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.