Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Declines By 19.1%

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 19,500 shares, a decrease of 19.1% from the March 15th total of 24,100 shares. Based on an average daily volume of 11,000 shares, the short-interest ratio is currently 1.8 days. Approximately 0.5% of the shares of the stock are short sold.

Red River Bancshares Stock Performance

NASDAQ:RRBI traded down $0.17 on Wednesday, reaching $51.31. The company's stock had a trading volume of 7,903 shares, compared to its average volume of 9,824. Red River Bancshares has a 1-year low of $42.78 and a 1-year high of $62.13. The business's 50-day moving average price is $52.59 and its two-hundred day moving average price is $54.32. The firm has a market cap of $347.78 million, a PE ratio of 10.34 and a beta of 0.47.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings data 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, sell-side analysts expect that Red River Bancshares will post 5.28 EPS for the current year.

Red River Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 dividend on an annualized basis and a dividend yield of 0.94%. Red River Bancshares's dividend payout ratio (DPR) is presently 9.68%.

Institutional Investors Weigh In On Red River Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRBI. Tower Research Capital LLC TRC raised its holdings in shares of Red River Bancshares by 138.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,146 shares of the company's stock valued at $62,000 after purchasing an additional 666 shares during the period. Lazard Asset Management LLC bought a new position in shares of Red River Bancshares during the 4th quarter worth approximately $106,000. SG Americas Securities LLC bought a new stake in Red River Bancshares in the 4th quarter valued at $109,000. FMR LLC lifted its holdings in Red River Bancshares by 140.5% during the 3rd quarter. FMR LLC now owns 2,128 shares of the company's stock valued at $111,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Red River Bancshares by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,695 shares of the company's stock valued at $145,000 after purchasing an additional 587 shares during the last quarter. 27.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James started coverage on Red River Bancshares in a research report on Tuesday, April 8th. They issued an "outperform" rating and a $57.00 price objective for the company.

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.