Short Interest in Redwood Capital Bancorp (OTCMKTS:RWCB) Expands By 2,500.0%

Redwood Capital Bancorp (OTCMKTS:RWCB) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 208 shares, a growth of 2,500.0% from the June 15th total of 8 shares. Based on an average trading volume of 2,204 shares, the days-to-cover ratio is presently 0.1 days.

Redwood Capital Bancorp Price Performance

RWCB stock remained flat at $31.95 during trading hours on Friday. 31 shares of the company’s stock were exchanged, compared to its average volume of 2,424. The company’s fifty day moving average is $32.17 and its 200-day moving average is $30.70. Redwood Capital Bancorp has a 12-month low of $22.99 and a 12-month high of $33.47.

Redwood Capital Bancorp announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 1st that permits the company to repurchase $1.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is 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.