Redwood Capital Bancorp (OTCMKTS:RWCB) Stock Price Down 0.5% – What’s Next?

Redwood Capital Bancorp (OTCMKTS:RWCB)’s stock price fell 0.5% during trading on Thursday . The company traded as low as $29.06 and last traded at $29.40. 6,881 shares were traded during trading, an increase of 300% from the average session volume of 1,722 shares. The stock had previously closed at $29.54.

Redwood Capital Bancorp Trading Down 0.5%

The company has a fifty day simple moving average of $28.96 and a 200 day simple moving average of $26.97.

Redwood Capital Bancorp declared that its Board of Directors has initiated a stock buyback plan on Friday, November 21st that allows the company to repurchase $1.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Redwood Capital Bancorp Company Profile

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.