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

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 23,600 shares, a growth of 32.6% from the August 31st total of 17,800 shares. Based on an average daily volume of 9,800 shares, the days-to-cover ratio is currently 2.4 days. Approximately 0.6% of the company’s stock are short sold.

Insider Buying and Selling

In other news, insider Tammi R. Salazar sold 576 shares of Red River Bancshares 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 completion of the transaction, the insider now directly owns 40,325 shares in the company, valued at $2,036,815.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Teddy Ray Price bought 580 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $53.16 per share, for a total transaction of $30,832.80. Following the completion of the transaction, the director now directly owns 368,058 shares in the company, valued at approximately $19,565,963.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tammi R. Salazar sold 576 shares of Red River Bancshares stock in a transaction 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 sale, the insider now directly owns 40,325 shares of the company’s stock, valued at $2,036,815.75. The disclosure for this sale can be found here. 16.40% of the stock is owned by company insiders.

Institutional Trading of Red River Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning purchased a new position in shares of Red River Bancshares in the second quarter worth $770,000. Renaissance Technologies LLC increased its position in shares of Red River Bancshares by 6.8% in the second quarter. Renaissance Technologies LLC now owns 11,000 shares of the company’s stock valued at $528,000 after acquiring an additional 700 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Red River Bancshares by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 71,660 shares of the company’s stock valued at $3,439,000 after acquiring an additional 4,960 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Red River Bancshares by 42.3% during the second quarter. Acadian Asset Management LLC now owns 13,417 shares of the company’s stock worth $642,000 after purchasing an additional 3,989 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Red River Bancshares by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 24,611 shares of the company’s stock worth $1,181,000 after purchasing an additional 1,690 shares during the last quarter. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Price Performance

RRBI stock traded up $0.08 during mid-day trading on Friday, hitting $51.73. 3,095 shares of the stock were exchanged, compared to its average volume of 8,616. The stock has a market capitalization of $356.42 million, a price-to-earnings ratio of 11.03 and a beta of 0.61. The business has a fifty day moving average price of $52.02 and a 200 day moving average price of $49.08. Red River Bancshares has a 12 month low of $42.78 and a 12 month high of $58.00.

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

Red River Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Monday, September 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.36 annualized dividend and a yield of 0.70%. Red River Bancshares’s payout ratio is 7.68%.

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.