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

Redwood Capital Bancorp (OTCMKTS:RWCB) saw a significant growth in short interest in the month of 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 daily volume of 2,204 shares, the days-to-cover ratio is presently 0.1 days.

Redwood Capital Bancorp Price Performance

Shares of OTCMKTS RWCB remained flat at $31.95 during trading on Friday. The firm has a 50-day simple moving average of $32.17 and a 200-day simple moving average of $30.70. Redwood Capital Bancorp has a fifty-two week low of $22.99 and a fifty-two week high of $33.47.

Redwood Capital Bancorp declared that its board has approved a share buyback plan on Wednesday, April 1st that authorizes the company to buyback $1.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is 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.