Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Down 21.2% in March

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 18,200 shares, a decline of 21.2% from the March 15th total of 23,100 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 9,500 shares, the days-to-cover ratio is currently 1.9 days.

Red River Bancshares Stock Down 3.2 %

NASDAQ:RRBI traded down $1.51 on Friday, reaching $45.73. The company's stock had a trading volume of 7,120 shares, compared to its average volume of 9,934. The firm has a market cap of $324.23 million, a price-to-earnings ratio of 9.41 and a beta of 0.59. Red River Bancshares has a 12-month low of $43.50 and a 12-month high of $58.00. The stock has a 50 day moving average price of $49.33 and a 200 day moving average price of $50.40.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $27.28 million for the quarter, compared to analyst estimates of $25.50 million. Red River Bancshares had a net margin of 24.83% and a return on equity of 12.18%. Equities research analysts expect that Red River Bancshares will post 4.49 EPS for the current fiscal year.

Red River Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were issued a $0.09 dividend. This is a positive change from Red River Bancshares's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, March 8th. Red River Bancshares's dividend payout ratio is currently 7.41%.

Insider Buying and Selling

In other Red River Bancshares news, insider Tammi R. Salazar sold 781 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $50.05, for a total value of $39,089.05. Following the completion of the sale, the insider now owns 39,901 shares in the company, valued at approximately $1,997,045.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Michael J. Brown purchased 633 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $51.65 per share, with a total value of $32,694.45. Following the transaction, the director now owns 633 shares in the company, valued at approximately $32,694.45. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tammi R. Salazar sold 781 shares of the firm's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $50.05, for a total transaction of $39,089.05. Following the sale, the insider now owns 39,901 shares of the company's stock, valued at $1,997,045.05. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,304 shares of company stock worth $120,480 and have sold 1,173 shares worth $58,732. 16.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Red River Bancshares

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its stake in Red River Bancshares by 72.1% during the first quarter. Acadian Asset Management LLC now owns 4,441 shares of the company's stock worth $233,000 after purchasing an additional 1,861 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Red River Bancshares by 56.3% during the 1st quarter. MetLife Investment Management LLC now owns 2,529 shares of the company's stock worth $134,000 after acquiring an additional 911 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Red River Bancshares by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 29,686 shares of the company's stock valued at $1,570,000 after acquiring an additional 2,608 shares during the period. Charles Schwab Investment Management Inc. grew its position in Red River Bancshares by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,813 shares of the company's stock valued at $626,000 after acquiring an additional 210 shares in the last quarter. Finally, State Street Corp grew its position in Red River Bancshares by 4.2% in the 1st quarter. State Street Corp now owns 86,935 shares of the company's stock valued at $4,600,000 after acquiring an additional 3,495 shares in the last quarter. Hedge funds and other institutional investors own 27.55% of the company's stock.

Analyst Ratings Changes

Separately, TheStreet downgraded shares of Red River Bancshares from a "b" rating to a "c+" rating in a report on Monday, March 4th.

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.