Red River Bancshares, Inc. (NASDAQ:RRBI) Sees Large Decline in Short Interest

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 13,700 shares, a decline of 24.7% from the March 31st total of 18,200 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 9,300 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Red River Bancshares news, Director Teddy Ray Price bought 804 shares of the stock in a transaction on Friday, February 2nd. The shares were acquired at an average price of $54.20 per share, with a total value of $43,576.80. Following the acquisition, the director now directly owns 366,740 shares of the company's stock, valued at approximately $19,877,308. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Red River Bancshares news, Director Teddy Ray Price bought 804 shares of the stock in a transaction on Friday, February 2nd. The shares were acquired at an average price of $54.20 per share, with a total value of $43,576.80. Following the acquisition, the director now directly owns 366,740 shares of the company's stock, valued at approximately $19,877,308. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Tammi R. Salazar sold 781 shares of the business's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $50.05, for a total transaction of $39,089.05. Following the sale, the insider now directly owns 39,901 shares in the company, valued at approximately $1,997,045.05. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 2,304 shares of company stock valued at $120,480 and have sold 1,173 shares valued at $58,732. 16.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. purchased a new position in Red River Bancshares in the fourth quarter worth $224,000. BNP Paribas Financial Markets grew its position in Red River Bancshares by 218.1% in the fourth quarter. BNP Paribas Financial Markets now owns 6,299 shares of the company's stock worth $353,000 after acquiring an additional 4,319 shares in the last quarter. Simmons Bank purchased a new position in Red River Bancshares in the fourth quarter worth $473,000. Russell Investments Group Ltd. grew its position in Red River Bancshares by 23.0% in the fourth quarter. Russell Investments Group Ltd. now owns 21,695 shares of the company's stock worth $1,217,000 after acquiring an additional 4,052 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Red River Bancshares by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 2,670 shares of the company's stock worth $150,000 after acquiring an additional 437 shares in the last quarter. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

Red River Bancshares Trading Up 3.4 %

Shares of RRBI traded up $1.56 during mid-day trading on Friday, reaching $47.21. 5,316 shares of the stock traded hands, compared to its average volume of 8,446. The firm has a fifty day moving average price of $48.37 and a 200 day moving average price of $50.44. The company has a market cap of $334.72 million, a price-to-earnings ratio of 10.07 and a beta of 0.59. Red River Bancshares has a 1 year low of $43.50 and a 1 year high of $58.00.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The firm had revenue of $27.28 million during the quarter, compared to analyst estimates of $25.50 million. Red River Bancshares had a net margin of 22.87% and a return on equity of 11.55%. On average, sell-side analysts anticipate that Red River Bancshares will post 4.49 EPS for the current year.

Red River Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were given a dividend of $0.09 per share. This is a positive change from Red River Bancshares's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, March 8th. Red River Bancshares's payout ratio is 7.68%.

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.