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 during 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. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 44,011 shares, the short-interest ratio is currently 2.1 days. Based on an average trading volume of 44,011 shares, the short-interest ratio is currently 2.1 days. Currently, 1.7% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in Red River Bancshares by 36.3% during the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after purchasing an additional 1,784 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Red River Bancshares by 44.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock worth $2,552,000 after buying an additional 15,205 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Red River Bancshares in the 1st quarter worth $315,000. Strs Ohio acquired a new stake in shares of Red River Bancshares in the first quarter valued at $26,000. Finally, Corton Capital Inc. bought a new position in Red River Bancshares during the second quarter valued at about $245,000. 27.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RRBI has been the subject of a number of analyst reports. 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 restated a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $67.00.

Red River Bancshares Trading Down 1.1%

Shares of RRBI traded down $1.02 during midday trading on Monday, reaching $88.90. 44,744 shares of the company were exchanged, compared to its average volume of 44,612. Red River Bancshares has a 1-year low of $46.33 and a 1-year high of $93.90. The stock has a 50-day moving average price of $77.40 and a 200-day moving average price of $69.67. The company has a market cap of $584.96 million, a price-to-earnings ratio of 13.91 and a beta of 0.51.

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

Red River Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Monday, December 8th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, December 8th. Red River Bancshares’s payout ratio is currently 9.39%.

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.