Red River Bancshares (NASDAQ:RRBI) Sets New 12-Month High – Should You Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $79.24 and last traded at $79.45, with a volume of 8602 shares trading hands. The stock had previously closed at $75.69.

Analysts Set New Price Targets

RRBI has been the subject of a number of recent research reports. Zacks Research downgraded Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Red River Bancshares currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Red River Bancshares Stock Down 3.2%

The company has a market cap of $508.57 million, a P/E ratio of 12.82 and a beta of 0.52. The stock has a 50 day moving average price of $72.05 and a two-hundred day moving average price of $67.06.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.08. The business had revenue of $31.91 million during the quarter, compared to the consensus estimate of $31.28 million. Red River Bancshares had a return on equity of 12.14% and a net margin of 24.44%. Equities analysts anticipate that Red River Bancshares, Inc. will post 5.28 EPS for the current year.

Red River Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 8th were paid a $0.15 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. Red River Bancshares’s dividend payout ratio is 9.95%.

Institutional Trading of Red River Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of RRBI. Vanguard Group Inc. grew its position in shares of Red River Bancshares by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 240,722 shares of the company’s stock worth $15,604,000 after purchasing an additional 769 shares in the last quarter. Geode Capital Management LLC grew its position in Red River Bancshares by 3.0% during the second quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock worth $6,527,000 after buying an additional 3,196 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Red River Bancshares by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 102,494 shares of the company’s stock worth $6,644,000 after acquiring an additional 3,379 shares during the period. Goldman Sachs Group Inc. raised its holdings in Red River Bancshares by 44.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock valued at $2,552,000 after acquiring an additional 15,205 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Red River Bancshares by 11.5% during the 2nd quarter. Acadian Asset Management LLC now owns 47,208 shares of the company’s stock valued at $2,769,000 after acquiring an additional 4,857 shares during the period. Institutional investors and hedge funds own 27.55% of the company’s stock.

Red River Bancshares Company Profile

Red River Bancshares, Inc is a bank holding company headquartered in Alexandria, Louisiana, operating through its principal subsidiary, Red River Bank. Established in 1998, the company provides a full range of commercial banking services designed to meet the needs of individuals, small to mid-size businesses, and nonprofit organizations. Red River Bank has built its reputation on personalized customer service and a commitment to supporting economic growth within its service area.

The company’s core offerings include commercial and industrial lending, real estate financing, consumer and residential mortgage loans, and deposit products such as checking, savings, money market accounts and certificates of deposit.