Blue Ridge Bankshares (NASDAQ:BRBS) Stock Falls 1.5% – Here’s What Happened

Blue Ridge Bankshares, Inc. (NASDAQ:BRBS)’s stock price traded down 1.5% during trading on Monday. The stock traded as low as $4.00 and last traded at $4.01. Approximately 1,141,170 shares were traded during mid-day trading, an increase of 105% from the average daily volume of 558,026 shares. The stock had previously closed at $4.07.

Blue Ridge Bankshares Stock Down 0.5%

The company has a fifty day simple moving average of $3.94 and a 200-day simple moving average of $3.81. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.68. The firm has a market cap of $355.17 million, a P/E ratio of -6.19 and a beta of 0.68.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BRBS. BlackRock Inc. purchased a new position in Blue Ridge Bankshares during the second quarter valued at approximately $15,038,000. Algebris UK Ltd. purchased a new stake in shares of Blue Ridge Bankshares in the second quarter worth $8,987,000. Dimensional Fund Advisors LP increased its stake in shares of Blue Ridge Bankshares by 18.9% in the first quarter. Dimensional Fund Advisors LP now owns 925,541 shares of the company’s stock worth $3,886,000 after purchasing an additional 147,269 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Blue Ridge Bankshares by 12.3% during the 1st quarter. Renaissance Technologies LLC now owns 540,453 shares of the company’s stock valued at $2,270,000 after purchasing an additional 59,300 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Blue Ridge Bankshares by 16.3% during the 2nd quarter. NewEdge Advisors LLC now owns 174,238 shares of the company’s stock valued at $615,000 after purchasing an additional 24,384 shares during the period. 50.48% of the stock is currently owned by institutional investors.

Blue Ridge Bankshares Company Profile

Blue Ridge Bankshares, Inc is a bank holding company headquartered in Luray, Virginia. Through its subsidiary, Blue Ridge Bank, the company provides community banking services to individuals, businesses and organizations in Virginia.

Its products and services include deposit accounts, consumer and commercial lending, residential and commercial real estate loans, mortgage services, online and mobile banking, cash-management solutions and other traditional banking products. The bank has also offered specialized services for small businesses and financial technology companies.

Blue Ridge Bank traces its roots to the Shenandoah Valley and has expanded its presence across several Virginia markets, including the Shenandoah Valley, Central Virginia and the greater Richmond area.