Red River Bancshares, Inc. (NASDAQ:RRBI) Short Interest Up 85.2% in June

Red River Bancshares, Inc. (NASDAQ:RRBI) was the target of a large growth in short interest in 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 company’s stock are short sold. Based on an average trading volume of 112,974 shares, the days-to-cover ratio is currently 2.3 days.

Red River Bancshares Price Performance

Red River Bancshares stock opened at $97.73 on Friday. Red River Bancshares has a 1 year low of $58.12 and a 1 year high of $100.52. The firm’s 50 day moving average price is $91.97 and its 200-day moving average price is $88.34. The stock has a market cap of $643.06 million, a P/E ratio of 14.63 and a beta of 0.42.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, April 30th. The company reported $1.81 earnings per share for the quarter, beating 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 firm had revenue of $32.94 million during the quarter, compared to analyst estimates of $33.03 million. As a group, equities analysts expect that Red River Bancshares will post 7.26 EPS for the current year.

Red River Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, June 8th. Red River Bancshares’s dividend payout ratio is 14.97%.

Institutional Trading of Red River Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in RRBI. AQR Capital Management LLC lifted its holdings in shares of Red River Bancshares by 36.3% during the 1st quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock valued at $346,000 after purchasing an additional 1,784 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Red River Bancshares by 44.5% during 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. Jane Street Group LLC acquired a new position in Red River Bancshares during the 1st quarter valued at about $315,000. Strs Ohio purchased a new stake in Red River Bancshares in the first quarter valued at about $26,000. Finally, Geode Capital Management LLC raised its stake in Red River Bancshares by 3.0% in the second quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock valued at $6,527,000 after buying an additional 3,196 shares during the last quarter. 27.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented 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 cut Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Raymond James Financial started coverage on Red River Bancshares in a research note on Wednesday, July 1st. They issued a “market perform” rating on the stock. Finally, Stephens cut Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price objective for the company. in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Red River Bancshares currently has an average rating of “Hold” and a consensus price target of $80.50.

About Red River Bancshares

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.