Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Expands By 21.7%

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 24,100 shares, an increase of 21.7% from the February 28th total of 19,800 shares. Approximately 0.6% of the company's shares are sold short. Based on an average daily trading volume, of 11,100 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Investors Weigh In On Red River Bancshares

A number of institutional investors have recently made changes to their positions in RRBI. GAMMA Investing LLC lifted its stake in shares of Red River Bancshares by 32,611.1% in the first quarter. GAMMA Investing LLC now owns 2,944 shares of the company's stock worth $152,000 after acquiring an additional 2,935 shares during the period. Millennium Management LLC lifted its position in shares of Red River Bancshares by 50.4% in the 4th quarter. Millennium Management LLC now owns 21,883 shares of the company's stock worth $1,181,000 after purchasing an additional 7,334 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Red River Bancshares in the 4th quarter valued at $106,000. Deutsche Bank AG increased its position in shares of Red River Bancshares by 54.5% during the fourth quarter. Deutsche Bank AG now owns 5,980 shares of the company's stock worth $323,000 after buying an additional 2,110 shares during the period. Finally, Citadel Advisors LLC raised its stake in Red River Bancshares by 40.6% during the fourth quarter. Citadel Advisors LLC now owns 18,630 shares of the company's stock worth $1,006,000 after buying an additional 5,381 shares during the last quarter. Institutional investors own 27.55% of the company's stock.

Red River Bancshares Trading Down 0.7 %

NASDAQ:RRBI traded down $0.33 during mid-day trading on Monday, hitting $48.67. 8,107 shares of the company's stock were exchanged, compared to its average volume of 9,861. Red River Bancshares has a fifty-two week low of $42.78 and a fifty-two week high of $62.13. The firm has a market capitalization of $329.89 million, a P/E ratio of 9.81 and a beta of 0.47. The company has a 50 day simple moving average of $54.60 and a 200-day simple moving average of $54.53.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.14. Red River Bancshares had a net margin of 21.71% and a return on equity of 11.04%. As a group, analysts expect that Red River Bancshares will post 5.28 earnings per share for the current year.

Red River Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, March 10th. This is an increase from Red River Bancshares's previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 0.99%. Red River Bancshares's payout ratio is presently 9.68%.

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.