Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Down 19.1% in March

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 19,500 shares, a decline of 19.1% from the March 15th total of 24,100 shares. Currently, 0.5% of the company's stock are short sold. Based on an average daily volume of 11,000 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

Separately, Raymond James started coverage on shares of Red River Bancshares in a report on Tuesday, April 8th. They issued an "outperform" rating and a $57.00 target price for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Red River Bancshares by 138.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,146 shares of the company's stock valued at $62,000 after buying an additional 666 shares during the period. Lazard Asset Management LLC purchased a new stake in Red River Bancshares during the fourth quarter valued at $106,000. SG Americas Securities LLC bought a new position in Red River Bancshares in the fourth quarter valued at about $109,000. FMR LLC boosted its position in Red River Bancshares by 140.5% in the third quarter. FMR LLC now owns 2,128 shares of the company's stock worth $111,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Red River Bancshares by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 2,695 shares of the company's stock valued at $145,000 after purchasing an additional 587 shares during the period. Institutional investors own 27.55% of the company's stock.

Red River Bancshares Trading Down 2.6 %

RRBI stock traded down $1.35 during midday trading on Friday, hitting $50.14. The company's stock had a trading volume of 1,456 shares, compared to its average volume of 9,789. The company has a market cap of $339.82 million, a PE ratio of 10.11 and a beta of 0.47. The firm's 50-day moving average is $52.36 and its 200-day moving average is $54.30. Red River Bancshares has a 12 month low of $42.78 and a 12 month high of $62.13.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.23 by $0.14. Red River Bancshares had a return on equity of 11.04% and a net margin of 21.71%. Analysts expect that Red River Bancshares will post 5.28 earnings per share for the current year.

Red River Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.96%. This is a boost from Red River Bancshares's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, March 10th. Red River Bancshares's payout ratio is presently 9.68%.

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.