Red River Bancshares (NASDAQ:RRBI) Hits New 52-Week High – Time to Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $94.20 and last traded at $94.45, with a volume of 61601 shares. The stock had previously closed at $91.15.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Raymond James Financial restated a “market perform” rating on shares of Red River Bancshares in a report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. Finally, Zacks Research downgraded Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.00.

Red River Bancshares Price Performance

The stock’s 50 day moving average price is $89.44 and its two-hundred day moving average price is $76.53. The firm has a market capitalization of $619.97 million, a price-to-earnings ratio of 14.74 and a beta of 0.45.

Red River Bancshares (NASDAQ:RRBI) last released its earnings results on Friday, January 30th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. The firm had revenue of $33.19 million during the quarter, compared to analyst estimates of $32.19 million. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. As a group, equities research analysts anticipate that Red River Bancshares, Inc. will post 5.28 EPS for the current fiscal year.

Red River Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were given a $0.25 dividend. This is a positive change from Red River Bancshares’s previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, March 9th. Red River Bancshares’s dividend payout ratio (DPR) is currently 15.65%.

Institutional Trading of Red River Bancshares

A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of Red River Bancshares by 345.1% during the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after purchasing an additional 222,401 shares during the period. Polymer Capital Management US LLC acquired a new position in shares of Red River Bancshares in the 4th quarter valued at $329,000. AQR Capital Management LLC lifted its holdings in shares of Red River Bancshares by 52.4% during the fourth quarter. AQR Capital Management LLC now owns 34,381 shares of the company’s stock valued at $2,456,000 after acquiring an additional 11,822 shares during the period. Trexquant Investment LP boosted its stake in shares of Red River Bancshares by 28.2% in the 4th quarter. Trexquant Investment LP now owns 12,998 shares of the company’s stock valued at $928,000 after purchasing an additional 2,859 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Red River Bancshares in the 4th quarter worth about $206,000. 27.55% of the stock is owned by institutional investors.

About Red River Bancshares

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.