Blue Ridge Bankshares (NASDAQ:BRBS) Shares Down 0.7% – Here’s What Happened

Blue Ridge Bankshares, Inc. (NASDAQ:BRBS) dropped 0.7% on Tuesday . The company traded as low as $4.26 and last traded at $4.28. Approximately 149,004 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 145,741 shares. The stock had previously closed at $4.31.

Blue Ridge Bankshares Stock Down 0.7%

The business’s fifty day moving average price is $4.34 and its 200 day moving average price is $4.17. The firm has a market capitalization of $391.57 million, a price-to-earnings ratio of -6.69 and a beta of 0.84. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68.

Institutional Investors Weigh In On Blue Ridge Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Blue Ridge Bankshares by 92.9% during the third quarter. Wellington Management Group LLP now owns 4,327,400 shares of the company’s stock worth $18,305,000 after buying an additional 2,083,852 shares during the period. Azora Capital LP raised its stake in Blue Ridge Bankshares by 49.3% during the 2nd quarter. Azora Capital LP now owns 4,405,906 shares of the company’s stock valued at $15,817,000 after acquiring an additional 1,454,521 shares during the last quarter. Geode Capital Management LLC lifted its position in Blue Ridge Bankshares by 166.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,218,285 shares of the company’s stock worth $4,374,000 after acquiring an additional 760,305 shares during the period. Two Sigma Investments LP grew its stake in shares of Blue Ridge Bankshares by 513.4% in the 3rd quarter. Two Sigma Investments LP now owns 572,146 shares of the company’s stock valued at $2,420,000 after purchasing an additional 478,876 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Blue Ridge Bankshares in the 3rd quarter valued at approximately $954,000. 50.48% of the stock is owned by hedge funds and other institutional investors.

Blue Ridge Bankshares Company Profile

Blue Ridge Bankshares, Inc is a bank holding company headquartered in Fort Valley, Virginia. Through its wholly owned subsidiary, Blue Ridge Bank, it offers a comprehensive suite of commercial and consumer banking services to individuals, businesses and agricultural clients. The company emphasizes a relationship-driven approach, leveraging local knowledge to deliver customized financial solutions.

Its product lineup includes deposit offerings such as checking, savings and money market accounts, as well as certificates of deposit.