Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Expands By 22.3%

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 54,374 shares, a growth of 22.3% from the November 30th total of 44,471 shares. Based on an average trading volume of 34,976 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.0% of the shares of the company are sold short. Approximately 1.0% of the shares of the company are sold short. Based on an average trading volume of 34,976 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

RRBI has been the subject of several research reports. Zacks Research downgraded Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Red River Bancshares in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Red River Bancshares Price Performance

RRBI stock opened at $71.43 on Friday. Red River Bancshares has a fifty-two week low of $46.33 and a fifty-two week high of $78.01. The stock has a market capitalization of $470.01 million, a price-to-earnings ratio of 11.85 and a beta of 0.52. The business’s fifty day moving average price is $69.85 and its two-hundred day moving average price is $65.48.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.55 by $0.08. Red River Bancshares had a net margin of 24.44% and a return on equity of 12.14%. The business had revenue of $31.91 million for the quarter, compared to the consensus estimate of $31.28 million. Research analysts expect that Red River Bancshares will post 5.28 EPS for the current year.

Red River Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Monday, December 8th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, December 8th. Red River Bancshares’s payout ratio is presently 9.95%.

Institutional Investors Weigh In On Red River Bancshares

A number of large investors have recently added to or reduced their stakes in RRBI. JPMorgan Chase & Co. raised its holdings in Red River Bancshares by 36.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,328 shares of the company’s stock valued at $281,000 after acquiring an additional 1,164 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Red River Bancshares by 2.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock worth $670,000 after purchasing an additional 200 shares during the period. NewEdge Advisors LLC increased its position in shares of Red River Bancshares by 5.8% in the third quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock worth $351,000 after purchasing an additional 296 shares during the period. Creative Planning raised its stake in Red River Bancshares by 3.9% in the third quarter. Creative Planning now owns 16,679 shares of the company’s stock valued at $1,081,000 after purchasing an additional 623 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Red River Bancshares by 15.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 23,406 shares of the company’s stock worth $1,517,000 after purchasing an additional 3,071 shares during the period. Institutional investors and hedge funds 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.