Blue Ridge Bankshares (NASDAQ:BRBS) Shares Down 1.5% - What's Next?

Key Points

• Blue Ridge Bankshares shares fell 1.5% to $4.01 during midday trading, while volume surged 105% above the average daily level.
• The stock’s market capitalization is approximately $359.7 million, with shares trading above their 50-day and 200-day moving averages; the company reported a negative P/E ratio of -6.27.
• Institutional ownership stands at 50.48%, with BlackRock and Algebris UK initiating sizable positions and several other investment firms increasing their stakes.

Blue Ridge Bankshares, Inc. (NASDAQ:BRBS - Get Free Report)'s share price were down 1.5% during mid-day trading on Monday. The stock traded as low as $4.00 and last traded at $4.01. 1,141,170 shares changed hands during mid-day trading, an increase of 105% from the average daily volume of 558,026 shares. The stock had previously closed at $4.07.

Blue Ridge Bankshares Stock Down 1.5%

The firm's 50 day moving average price is $3.93 and its 200-day moving average price is $3.81. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The company has a market cap of $359.65 million, a P/E ratio of -6.27 and a beta of 0.68.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Blue Ridge Bankshares in the 2nd quarter valued at $15,038,000. Algebris UK Ltd. bought a new stake in shares of Blue Ridge Bankshares in the second quarter worth about $8,987,000. Dimensional Fund Advisors LP raised its position in shares of Blue Ridge Bankshares by 18.9% during the first quarter. Dimensional Fund Advisors LP now owns 925,541 shares of the company's stock worth $3,886,000 after purchasing an additional 147,269 shares during the period. Renaissance Technologies LLC raised its position in shares of Blue Ridge Bankshares by 12.3% during the first quarter. Renaissance Technologies LLC now owns 540,453 shares of the company's stock worth $2,270,000 after purchasing an additional 59,300 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Blue Ridge Bankshares by 16.3% during the second quarter. NewEdge Advisors LLC now owns 174,238 shares of the company's stock worth $615,000 after purchasing an additional 24,384 shares during the period. Institutional investors and hedge funds own 50.48% of the company's stock.

Blue Ridge Bankshares Company Profile

Blue Ridge Bankshares, Inc is a bank holding company headquartered in Luray, Virginia. Through its subsidiary, Blue Ridge Bank, the company provides community banking services to individuals, businesses and organizations in Virginia.

Its products and services include deposit accounts, consumer and commercial lending, residential and commercial real estate loans, mortgage services, online and mobile banking, cash-management solutions and other traditional banking products. The bank has also offered specialized services for small businesses and financial technology companies.

Blue Ridge Bank traces its roots to the Shenandoah Valley and has expanded its presence across several Virginia markets, including the Shenandoah Valley, Central Virginia and the greater Richmond area.

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