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

Red River Bancshares, Inc. (NASDAQ:RRBI) saw a large decline in short interest in 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. Based on an average daily volume of 11,000 shares, the short-interest ratio is presently 1.8 days. Currently, 0.5% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Raymond James assumed coverage on shares of Red River Bancshares in a research report on Tuesday, April 8th. They set an “outperform” rating and a $57.00 target price for the company.

Red River Bancshares Price Performance

Shares of RRBI opened at $49.91 on Friday. The company has a market capitalization of $338.29 million, a P/E ratio of 10.06 and a beta of 0.47. Red River Bancshares has a one year low of $42.78 and a one year high of $62.13. The business’s 50 day simple moving average is $52.87 and its 200-day simple moving average is $54.31.

Red River Bancshares (NASDAQ:RRBI) last announced its earnings results on Tuesday, February 4th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.14. Red River Bancshares had a return on equity of 11.04% and a net margin of 21.71%. On average, sell-side analysts anticipate that Red River Bancshares will post 5.28 EPS for the current fiscal year.

Red River Bancshares Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RRBI. State Street Corp lifted its stake in shares of Red River Bancshares by 1.1% during the third quarter. State Street Corp now owns 95,219 shares of the company’s stock valued at $4,951,000 after acquiring an additional 993 shares during the period. Dimensional Fund Advisors LP raised its holdings in Red River Bancshares by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 84,557 shares of the company’s stock worth $4,564,000 after purchasing an additional 5,346 shares during the last quarter. Northern Trust Corp lifted its position in Red River Bancshares by 2.9% during the 4th quarter. Northern Trust Corp now owns 38,831 shares of the company’s stock valued at $2,096,000 after purchasing an additional 1,087 shares during the period. Millennium Management LLC boosted its stake in shares of Red River Bancshares by 50.4% in the 4th quarter. Millennium Management LLC now owns 21,883 shares of the company’s stock valued at $1,181,000 after purchasing an additional 7,334 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Red River Bancshares by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 21,321 shares of the company’s stock worth $1,151,000 after buying an additional 482 shares during the period. 27.55% of the stock is currently owned by institutional investors.

Red River Bancshares Company Profile

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.