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

Red River Bancshares Inc (NASDAQ:RRBI) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 12,400 shares, a drop of 9.5% from the August 30th total of 13,700 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 4,300 shares, the days-to-cover ratio is presently 2.9 days.

Several institutional investors and hedge funds have recently modified their holdings of the company. Maltese Capital Management LLC bought a new stake in shares of Red River Bancshares during the 2nd quarter valued at about $2,907,000. Castine Capital Management LLC bought a new stake in shares of Red River Bancshares during the 2nd quarter valued at about $2,289,000. Banc Funds Co. LLC bought a new stake in shares of Red River Bancshares during the 2nd quarter valued at about $1,615,000. BlackRock Inc. bought a new stake in shares of Red River Bancshares during the 2nd quarter valued at about $1,552,000. Finally, THB Asset Management bought a new stake in shares of Red River Bancshares during the 2nd quarter valued at about $1,433,000. Hedge funds and other institutional investors own 9.34% of the company’s stock.

Shares of RRBI traded down $0.46 during trading hours on Tuesday, reaching $43.27. 1,768 shares of the company’s stock traded hands, compared to its average volume of 6,436. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.04. The firm’s 50 day simple moving average is $43.28. Red River Bancshares has a 12 month low of $42.35 and a 12 month high of $58.00.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.10). The firm had revenue of $19.75 million during the quarter, compared to analysts’ expectations of $19.26 million. As a group, analysts predict that Red River Bancshares will post 3.36 earnings per share for the current year.

Several research analysts have commented on RRBI shares. Zacks Investment Research downgraded Red River Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine downgraded Red River Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd.

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 businesses, professionals, individuals, and public entities in Louisiana. It provides consumer checking accounts, money market accounts, and time deposits; real estate loans, commercial loans, treasury management services; and private banking services, residential mortgage lending, and investment services.

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