Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Update

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 28,200 shares, an increase of 50.0% from the April 30th total of 18,800 shares. Based on an average trading volume of 8,000 shares, the short-interest ratio is currently 3.5 days. Currently, 0.7% of the company's shares are sold short.

Red River Bancshares Stock Performance

Shares of RRBI stock traded down $0.58 during mid-day trading on Thursday, hitting $55.55. The company's stock had a trading volume of 10,747 shares, compared to its average volume of 10,081. The company's fifty day simple moving average is $53.01 and its 200-day simple moving average is $54.61. Red River Bancshares has a 52 week low of $42.78 and a 52 week high of $62.13. The company has a market cap of $377.07 million, a PE ratio of 11.20 and a beta of 0.50.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.23. Red River Bancshares had a return on equity of 11.04% and a net margin of 21.71%. The business had revenue of $29.43 million during the quarter, compared to analyst estimates of $28.24 million. On average, equities analysts anticipate that Red River Bancshares will post 5.28 earnings per share for the current year.

Red River Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, June 6th. Red River Bancshares's payout ratio is 9.02%.

Institutional Trading of Red River Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRBI. Goldman Sachs Group Inc. increased its position in Red River Bancshares by 44.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company's stock valued at $2,552,000 after buying an additional 15,205 shares in the last quarter. Nuveen LLC bought a new stake in Red River Bancshares in the 1st quarter valued at about $666,000. Acadian Asset Management LLC increased its position in Red River Bancshares by 27.4% in the 1st quarter. Acadian Asset Management LLC now owns 42,351 shares of the company's stock valued at $2,184,000 after buying an additional 9,111 shares in the last quarter. JPMorgan Chase & Co. increased its position in Red River Bancshares by 101.5% in the 4th quarter. JPMorgan Chase & Co. now owns 17,658 shares of the company's stock valued at $953,000 after buying an additional 8,895 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Red River Bancshares by 50.4% during the 4th quarter. Millennium Management LLC now owns 21,883 shares of the company's stock worth $1,181,000 after purchasing an additional 7,334 shares in the last quarter. 27.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Raymond James reissued an "outperform" rating and issued a $62.00 price objective (up from $57.00) on shares of Red River Bancshares in a research report on Friday, May 2nd.

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.