Redwood Capital Bancorp (OTCMKTS:RWCB) Trading Down 0% – Here’s What Happened

Redwood Capital Bancorp (OTCMKTS:RWCB) fell 0% during mid-day trading on Friday . The stock traded as low as $31.25 and last traded at $31.94. 929 shares traded hands during trading, a decline of 62% from the average session volume of 2,467 shares. The stock had previously closed at $31.95.

Redwood Capital Bancorp Stock Down 0.0%

The firm has a fifty day moving average price of $32.01 and a 200 day moving average price of $30.10.

Redwood Capital Bancorp announced that its Board of Directors has approved a stock buyback plan on Wednesday, April 1st that authorizes the company to repurchase $1.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.