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

Key Points

• Short interest in Red River Bancshares surged 85.2% in June, reaching 261,285 shares, or about 4.8% of the float. The stock’s days-to-cover ratio is now 2.3 days based on average trading volume.
• RRBI shares were trading near their 52-week high at $99.87, up 2.4% on the day, with a 50-day average of $91.84 and a 200-day average of $88.27. The company has a market cap of about $657 million and a low beta of 0.42.
• Recent fundamentals and sentiment were mixed: Red River Bancshares beat quarterly EPS estimates, paid a $0.25 quarterly dividend, and has a 1.0% yield. However, analysts currently rate the stock a consensus Hold with an average price target of $80.50.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 261,285 shares, a growth of 85.2% from the June 15th total of 141,079 shares. Currently, 4.8% of the shares of the company are short sold. Based on an average daily trading volume, of 112,974 shares, the days-to-cover ratio is presently 2.3 days.

Red River Bancshares Trading Up 2.4%

Shares of NASDAQ:RRBI opened at $99.87 on Friday. The stock has a 50 day moving average of $91.84 and a 200 day moving average of $88.27. The company has a market cap of $657.14 million, a PE ratio of 14.95 and a beta of 0.42. Red River Bancshares has a 12-month low of $58.12 and a 12-month high of $100.52.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.12. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. The company had revenue of $32.94 million for the quarter, compared to analysts' expectations of $33.03 million. Equities research analysts predict that Red River Bancshares will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.00 annualized dividend and a yield of 1.0%. Red River Bancshares's dividend payout ratio is currently 14.97%.

Wall Street Analyst Weigh In

RRBI has been the topic of several recent research reports. Raymond James Financial began coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They issued a "market perform" rating on the stock. Weiss Ratings downgraded shares of Red River Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, June 29th. Zacks Research lowered Red River Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, Stephens cut Red River Bancshares from an "overweight" rating to an "equal weight" rating and set a $94.00 target price on the stock. in a report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $80.50.

Institutional Investors Weigh In On Red River Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC purchased a new position in shares of Red River Bancshares in the first quarter valued at about $226,000. Bank of America Corp DE grew its position in shares of Red River Bancshares by 70.2% during the first quarter. Bank of America Corp DE now owns 13,794 shares of the company's stock worth $1,248,000 after purchasing an additional 5,688 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Red River Bancshares by 13.1% during the first quarter. Quantinno Capital Management LP now owns 6,008 shares of the company's stock worth $543,000 after purchasing an additional 696 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Red River Bancshares by 164.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company's stock valued at $6,546,000 after purchasing an additional 45,014 shares during the period. Finally, Sei Investments Co. bought a new stake in Red River Bancshares during the 1st quarter valued at approximately $1,627,000. 27.55% of the stock is owned by institutional investors.

Red River Bancshares Company Profile

Red River Bancshares, Inc is a bank holding company headquartered in Alexandria, Louisiana, operating through its principal subsidiary, Red River Bank. Established in 1998, the company provides a full range of commercial banking services designed to meet the needs of individuals, small to mid-size businesses, and nonprofit organizations. Red River Bank has built its reputation on personalized customer service and a commitment to supporting economic growth within its service area.

The company's core offerings include commercial and industrial lending, real estate financing, consumer and residential mortgage loans, and deposit products such as checking, savings, money market accounts and certificates of deposit.

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