Redwood Capital Bancorp (OTCMKTS:RWCB) Stock Price Down 0.5% – What’s Next?

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

Redwood Capital Bancorp Trading Down 0.5%

The stock has a 50-day moving average of $28.96 and a 200 day moving average of $26.97.

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