Blue Ridge Bankshares (NASDAQ:BRBS) Share Price Breaks Above Fifty Day Moving Average – What’s Next?

Blue Ridge Bankshares, Inc. (NASDAQ:BRBS) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $3.94 and traded as high as $4.03. Blue Ridge Bankshares shares last traded at $4.01, with a volume of 537,596 shares changing hands.

Blue Ridge Bankshares Stock Performance

The firm has a fifty day simple moving average of $3.94 and a 200 day simple moving average of $3.80. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The stock has a market cap of $359.65 million, a price-to-earnings ratio of -6.27 and a beta of 0.68.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cannon Wealth Management Services LLC bought a new stake in Blue Ridge Bankshares in the second quarter valued at about $36,000. Farther Finance Advisors LLC raised its position in Blue Ridge Bankshares by 961.7% in the third quarter. Farther Finance Advisors LLC now owns 11,201 shares of the company’s stock worth $43,000 after purchasing an additional 10,146 shares in the last quarter. Raffles Associates LP bought a new position in Blue Ridge Bankshares during the second quarter worth about $40,000. The Manufacturers Life Insurance Company bought a new position in Blue Ridge Bankshares during the second quarter worth about $89,000. Finally, Sei Investments Co. bought a new position in Blue Ridge Bankshares during the first quarter worth about $110,000. 50.48% of the stock is currently owned by institutional investors and hedge funds.

Blue Ridge Bankshares Company Profile

Blue Ridge Bankshares, Inc is a bank holding company headquartered in Luray, Virginia. Through its subsidiary, Blue Ridge Bank, the company provides community banking services to individuals, businesses and organizations in Virginia.

Its products and services include deposit accounts, consumer and commercial lending, residential and commercial real estate loans, mortgage services, online and mobile banking, cash-management solutions and other traditional banking products. The bank has also offered specialized services for small businesses and financial technology companies.

Blue Ridge Bank traces its roots to the Shenandoah Valley and has expanded its presence across several Virginia markets, including the Shenandoah Valley, Central Virginia and the greater Richmond area.