Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Update

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 261,285 shares, an increase of 85.2% from the June 15th total of 141,079 shares. Based on an average daily trading volume, of 112,974 shares, the days-to-cover ratio is currently 2.3 days. Currently, 4.8% of the shares of the stock are short sold.

Hedge Funds Weigh In On Red River Bancshares

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in shares of Red River Bancshares by 36.3% in the 1st quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after buying an additional 1,784 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Red River Bancshares by 44.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock valued at $2,552,000 after buying an additional 15,205 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Red River Bancshares during the 1st quarter valued at about $315,000. Strs Ohio bought a new position in shares of Red River Bancshares in the 1st quarter valued at about $26,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Red River Bancshares by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock valued at $6,527,000 after acquiring an additional 3,196 shares during the last quarter. Institutional investors own 27.55% of the company’s stock.

Analyst Ratings Changes

RRBI has been the topic of several research analyst reports. Weiss Ratings downgraded shares of Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, June 29th. Raymond James Financial initiated coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They set a “market perform” rating for the company. Zacks Research downgraded shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Stephens cut shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target on the stock. in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Red River Bancshares presently has a consensus rating of “Hold” and an average target price of $80.50.

Red River Bancshares Trading Up 2.4%

Shares of Red River Bancshares stock opened at $99.87 on Friday. The firm has a market cap of $657.14 million, a PE ratio of 14.95 and a beta of 0.42. The stock has a 50 day moving average of $91.84 and a 200 day moving average of $88.27. Red River Bancshares has a 12 month low of $58.12 and a 12 month high of $100.52.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.12. The business had revenue of $32.94 million for the quarter, compared to the consensus estimate of $33.03 million. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%. As a group, equities research analysts forecast that Red River Bancshares will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Red River Bancshares’s dividend payout ratio is presently 14.97%.

Red River Bancshares Company Profile

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.