Short Interest in Red River Bancshares, Inc. (NASDAQ:RRBI) Rises By 56.2%

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 21,400 shares, an increase of 56.2% from the April 15th total of 13,700 shares. Currently, 0.5% of the company's stock are short sold. Based on an average daily volume of 9,200 shares, the days-to-cover ratio is presently 2.3 days.

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.

Insider Activity at Red River Bancshares

In other news, insider Tammi R. Salazar sold 781 shares of the company's stock in a transaction on 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 document filed with the SEC, which is accessible through this hyperlink. In other news, Director Michael J. Brown bought 867 shares of Red River Bancshares stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average price of $50.99 per share, for a total transaction of $44,208.33. Following the purchase, the director now directly owns 1,500 shares in the company, valued at approximately $76,485. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tammi R. Salazar sold 781 shares of the company's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $50.05, for a total transaction of $39,089.05. Following the completion of the sale, the insider now owns 39,901 shares of the company's stock, valued at approximately $1,997,045.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,173 shares of company stock valued at $58,732. 16.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Red River Bancshares

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Red River Bancshares by 0.6% during the first quarter. Vanguard Group Inc. now owns 225,360 shares of the company's stock valued at $11,221,000 after purchasing an additional 1,440 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Red River Bancshares by 5.6% during the first quarter. Russell Investments Group Ltd. now owns 22,919 shares of the company's stock valued at $1,141,000 after purchasing an additional 1,224 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Red River Bancshares by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 19,172 shares of the company's stock valued at $881,000 after purchasing an additional 224 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Red River Bancshares by 108.4% during the first quarter. Acadian Asset Management LLC now owns 9,428 shares of the company's stock valued at $468,000 after purchasing an additional 4,903 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Red River Bancshares by 42.3% during the first quarter. BNP Paribas Financial Markets now owns 8,962 shares of the company's stock valued at $446,000 after purchasing an additional 2,663 shares during the last quarter. 27.55% of the stock is owned by hedge funds and other institutional investors.

Red River Bancshares Trading Down 0.5 %

Shares of NASDAQ:RRBI traded down $0.25 during midday trading on Friday, reaching $47.74. The company had a trading volume of 3,722 shares, compared to its average volume of 7,051. The company's 50 day moving average price is $47.88 and its 200 day moving average price is $50.43. The stock has a market cap of $338.48 million, a P/E ratio of 10.18 and a beta of 0.61. Red River Bancshares has a 52-week low of $44.00 and a 52-week high of $58.00.

Red River Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were issued a $0.09 dividend. This is an increase 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 0.75%. The ex-dividend date of this dividend 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.

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