Redwood Capital Bancorp (OTCMKTS:RWCB – Get Free Report) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 353 shares, a growth of 169.5% from the April 15th total of 131 shares. Based on an average daily trading volume, of 2,029 shares, the days-to-cover ratio is presently 0.2 days.
Redwood Capital Bancorp Stock Up 0.4%
Shares of Redwood Capital Bancorp stock opened at $32.62 on Friday. Redwood Capital Bancorp has a 1-year low of $20.65 and a 1-year high of $33.47. The firm’s 50-day moving average price is $31.23 and its two-hundred day moving average price is $29.57.
Redwood Capital Bancorp announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 1st that permits the company to buyback $1.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management 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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