Blue Ridge Bankshares (NASDAQ:BRBS) Share Price Breaks Above Fifty Day Moving Average – What’s Next?

Blue Ridge Bankshares, Inc. (NASDAQ:BRBS)’s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $3.94 and traded as high as $4.03. Blue Ridge Bankshares shares last traded at $4.01, with a volume of 537,596 shares traded.

Blue Ridge Bankshares Trading Up 2.0%

The company has a 50 day moving average of $3.94 and a 200 day moving average of $3.80. The firm has a market cap of $359.65 million, a price-to-earnings ratio of -6.27 and a beta of 0.68. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68.

Institutional Investors Weigh In On Blue Ridge Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in BRBS. BlackRock Inc. bought a new stake in shares of Blue Ridge Bankshares in the 2nd quarter worth about $15,038,000. Algebris UK Ltd. bought a new stake in Blue Ridge Bankshares during the second quarter worth about $8,987,000. Dimensional Fund Advisors LP grew its stake in Blue Ridge Bankshares by 18.9% during the first quarter. Dimensional Fund Advisors LP now owns 925,541 shares of the company’s stock worth $3,886,000 after buying an additional 147,269 shares during the last quarter. Renaissance Technologies LLC grew its stake in Blue Ridge Bankshares by 12.3% during the first quarter. Renaissance Technologies LLC now owns 540,453 shares of the company’s stock worth $2,270,000 after buying an additional 59,300 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Blue Ridge Bankshares by 16.3% during the second quarter. NewEdge Advisors LLC now owns 174,238 shares of the company’s stock worth $615,000 after buying an additional 24,384 shares in the last quarter. Institutional investors and hedge funds own 50.48% of the company’s stock.

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.