Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Increases By 29.9%

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 17,800 shares, an increase of 29.9% from the August 15th total of 13,700 shares. Based on an average daily trading volume, of 9,400 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.4% of the company’s stock are sold short.

Red River Bancshares Stock Performance

Shares of NASDAQ RRBI traded down $0.37 during trading hours on Monday, reaching $52.42. 5,849 shares of the stock were exchanged, compared to its average volume of 8,878. The firm has a market capitalization of $361.17 million, a price-to-earnings ratio of 11.18 and a beta of 0.61. Red River Bancshares has a 52 week low of $42.78 and a 52 week high of $58.00. The stock’s fifty day simple moving average is $51.69 and its 200 day simple moving average is $48.88.

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

Red River Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, September 9th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.69%. Red River Bancshares’s dividend payout ratio (DPR) is currently 7.68%.

Insider Buying and Selling

In related news, insider Tammi R. Salazar sold 576 shares of the stock in a transaction dated Monday, July 15th. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Tammi R. Salazar sold 576 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $50.51, for a total value of $29,093.76. Following the completion of the sale, the insider now directly owns 40,325 shares of the company’s stock, valued at $2,036,815.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teddy Ray Price acquired 580 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $53.16 per share, with a total value of $30,832.80. Following the completion of the transaction, the director now owns 368,058 shares of the company’s stock, valued at $19,565,963.28. The disclosure for this purchase can be found here. 16.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Red River Bancshares

A number of large investors have recently made changes to their positions in RRBI. Creative Planning bought a new position in Red River Bancshares during the 2nd quarter worth $770,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Red River Bancshares during the 1st quarter valued at $424,000. Dimensional Fund Advisors LP boosted its holdings in shares of Red River Bancshares by 7.4% during the 2nd 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 in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Red River Bancshares by 108.4% during the 1st quarter. Acadian Asset Management LLC now owns 9,428 shares of the company’s stock valued at $468,000 after acquiring an additional 4,903 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Red River Bancshares by 218.1% during the 4th quarter. BNP Paribas Financial Markets now owns 6,299 shares of the company’s stock valued at $353,000 after acquiring an additional 4,319 shares in the last quarter. Institutional investors own 27.55% of the company’s stock.

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.