Redwood Capital Bancorp (OTCMKTS:RWCB) Shares Up 0.5% – Time to Buy?

Redwood Capital Bancorp (OTCMKTS:RWCB) shares shot up 0.5% during mid-day trading on Friday . The company traded as high as $29.64 and last traded at $29.64. 300 shares were traded during trading, a decline of 91% from the average session volume of 3,310 shares. The stock had previously closed at $29.50.

Redwood Capital Bancorp Stock Up 0.5%

The company has a fifty day moving average of $29.09 and a 200 day moving average of $27.52.

Redwood Capital Bancorp declared that its board has initiated a stock repurchase plan on Friday, November 21st that permits the company to repurchase $1.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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.