Red River Bancshares Inc . (NASDAQ:RRBI) executive Tammi R. Salazar has recently sold a significant portion of her holdings in the company. As the Executive Vice President and Chief Operating Officer of Red River Bank, Salazar completed multiple stock transactions that resulted in a total sale of $154,819 worth of shares.
The transactions, which occurred between March 21 and March 22, 2024, involved the sale of shares at prices ranging from $50.05 to $50.108. Specifically, on March 21, Salazar sold 369 shares of common stock at a price of $50.10 each, as well as 2,521 shares at a weighted average price of $50.108. The latter sale was part of a diversification strategy under a trading plan that had been previously established. Additionally, on March 22, another 200 shares were sold at $50.05 each. These sales were executed under a Rule 10b5-1 trading plan, which was set up in November of the previous year as a means to allow company insiders to sell their shares in a pre-planned manner.
The shares sold by Salazar were held both directly and indirectly, with some being held by her spouse, Bryon C. Salazar. Following these transactions, the Salazars still hold a considerable amount of Red River Bancshares stock, including unvested restricted shares that are scheduled to vest over the next several years. These shares are subject to forfeiture under certain conditions as specified in the restricted stock grant.
Investors often keep a close eye on insider transactions as they can provide insights into executives' perspectives on the company's future performance. The recent sales by a top executive at Red River Bancshares may be of interest to those following the financial sector and the company's stock performance.
For more information on the specifics of the transactions, including the exact number of shares sold at each price point, the company has committed to providing full details upon request.
InvestingPro Insights
As investors digest the news of executive Tammi R. Salazar's recent stock sales, Red River Bancshares Inc. (NASDAQ:RRBI) presents a mixed financial landscape according to InvestingPro data. The company's market capitalization stands at a modest $344.76 million, which, coupled with a Price to Earnings (P/E) ratio of 9.94, suggests a valuation that may appeal to value-oriented investors. Furthermore, the P/E ratio has shown stability, with a slight adjustment to 9.88 over the last twelve months as of Q4 2023.
From a profitability standpoint, Red River Bancshares has demonstrated resilience, with an impressive operating income margin of 41.74% over the same period. This robust margin is a testament to the company's operational efficiency and could be a reassuring factor for shareholders concerned about the recent insider sales. Additionally, the company's revenue growth, albeit modest at 3.07% in the last twelve months as of Q4 2023, indicates a steady business trajectory.
Turning to InvestingPro Tips, it's noteworthy that two analysts have recently revised their earnings estimates upwards for the upcoming period, hinting at potential optimism regarding the company's financial prospects. This could be an encouraging sign for investors, especially considering that analysts predict the company will be profitable this year. Moreover, Red River Bancshares has been profitable over the last twelve months, reinforcing the positive outlook.
While some may be concerned about the company's weak gross profit margins as highlighted by InvestingPro Tips, the overall financial health of Red River Bancshares appears solid. For those interested in a deeper analysis, there are additional InvestingPro Tips available that could provide further insights into the company's financial condition and future outlook.
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