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

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 17,800 shares, a growth 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. Currently, 0.4% of the company's stock are sold short.

Insiders Place Their Bets

In related news, Director Teddy Ray Price acquired 580 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $53.16 per share, with a total value of $30,832.80. Following the purchase, the director now owns 368,058 shares of the company's stock, valued at $19,565,963.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Tammi R. Salazar sold 576 shares of the stock in a transaction dated Monday, July 15th. The shares were 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 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. Also, Director Teddy Ray Price purchased 580 shares of the stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $53.16 per share, for a total transaction of $30,832.80. Following the acquisition, the director now directly owns 368,058 shares in the company, valued at $19,565,963.28. The disclosure for this purchase can be found here. Company insiders own 16.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RRBI. Creative Planning bought a new position in shares of Red River Bancshares during the 2nd quarter valued at about $770,000. Renaissance Technologies LLC lifted its stake in Red River Bancshares by 6.8% in the second quarter. Renaissance Technologies LLC now owns 11,000 shares of the company's stock valued at $528,000 after buying an additional 700 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Red River Bancshares by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 71,660 shares of the company's stock valued at $3,439,000 after buying an additional 4,960 shares during the period. Acadian Asset Management LLC increased its position in shares of Red River Bancshares by 42.3% during the second quarter. Acadian Asset Management LLC now owns 13,417 shares of the company's stock worth $642,000 after acquiring an additional 3,989 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Red River Bancshares by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 24,611 shares of the company's stock worth $1,181,000 after acquiring an additional 1,690 shares during the period. Institutional investors and hedge funds own 27.55% of the company's stock.

Red River Bancshares Price Performance

Shares of RRBI traded down $0.37 on Monday, hitting $52.42. The company's stock had a trading volume of 5,849 shares, compared to its average volume of 8,878. The company has a 50 day moving average price of $51.56 and a 200 day moving average price of $48.86. The company has a market capitalization of $361.17 million, a PE ratio of 11.11 and a beta of 0.61. Red River Bancshares has a fifty-two week low of $42.78 and a fifty-two week high of $58.00.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. Red River Bancshares had a net margin of 21.56% and a return on equity of 10.90%. The company had revenue of $26.89 million during the quarter, compared to analysts' expectations of $26.68 million. On average, equities analysts forecast that Red River Bancshares will post 4.68 EPS for the current year.

Red River Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Monday, September 9th will be given a $0.09 dividend. 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 is 7.68%.

Red River Bancshares Company Profile

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.