Redwood Capital Bancorp (OTCMKTS:RWCB) Stock Price Down 0% – Should You Sell?

Redwood Capital Bancorp (OTCMKTS:RWCB) shares dropped 0% during mid-day trading on Friday . The stock traded as low as $31.25 and last traded at $31.94. Approximately 929 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 2,467 shares. The stock had previously closed at $31.95.

Redwood Capital Bancorp Price Performance

The firm’s 50 day simple moving average is $32.01 and its 200-day simple moving average is $30.10.

Redwood Capital Bancorp declared that its board has authorized a share buyback program on Wednesday, April 1st that authorizes the company to buyback $1.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

About Redwood Capital Bancorp

Redwood Capital Bancorp is the bank holding company for Redwood Capital Bank FSB, a community-oriented financial institution headquartered in Santa Rosa, California. As a federally chartered savings bank, it provides a full range of deposit and lending products to individuals, small businesses, and professional clients, with a focus on personalized service and local decision-making.

The company’s deposit portfolio includes checking and savings accounts, money market funds, and certificates of deposit, all designed to meet the needs of both personal and commercial clients.