Redwood Capital Bancorp (OTCMKTS:RWCB) Trading Down 0.5% – Time to Sell?

Redwood Capital Bancorp (OTCMKTS:RWCB) fell 0.5% on Thursday . The stock traded as low as $29.06 and last traded at $29.40. 6,881 shares changed hands during trading, an increase of 300% from the average session volume of 1,722 shares. The stock had previously closed at $29.54.

Redwood Capital Bancorp Stock Down 0.5%

The business has a fifty day simple moving average of $28.96 and a 200-day simple moving average of $26.97.

Redwood Capital Bancorp announced that its board has authorized a share buyback program on Friday, November 21st that allows the company to repurchase $1.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are 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.