Redwood Capital Bancorp (OTCMKTS:RWCB – Get Free Report)’s stock price traded down 0.3% on Friday . The company traded as low as $31.40 and last traded at $32.00. Approximately 321 shares traded hands during trading, a decline of 87% from the average session volume of 2,447 shares. The stock had previously closed at $32.09.
Redwood Capital Bancorp Trading Down 0.3%
The company’s fifty day simple moving average is $32.21 and its 200-day simple moving average is $30.51.
Redwood Capital Bancorp declared that its board has authorized a stock repurchase program on Wednesday, April 1st that authorizes the company to buyback $1.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
About Redwood Capital Bancorp
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.
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