Red River Bancshares (NASDAQ:RRBI) Issues Earnings Results

Red River Bancshares (NASDAQ:RRBI) released its quarterly earnings data on Thursday. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.12, FiscalAI reports. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. The firm had revenue of $32.94 million during the quarter, compared to analysts’ expectations of $32.98 million.

Red River Bancshares Stock Down 2.8%

Shares of RRBI traded down $2.59 during midday trading on Thursday, reaching $90.73. 90,342 shares of the stock were exchanged, compared to its average volume of 55,082. Red River Bancshares has a twelve month low of $51.98 and a twelve month high of $98.85. The company has a market cap of $597.00 million, a P/E ratio of 14.20 and a beta of 0.45. The stock’s 50 day simple moving average is $90.97 and its 200 day simple moving average is $79.59.

Red River Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were issued a dividend of $0.25 per share. This is an increase from Red River Bancshares’s previous quarterly dividend of $0.15. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, March 9th. Red River Bancshares’s payout ratio is 15.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Red River Bancshares by 345.1% in the fourth 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 bought a new position in shares of Red River Bancshares in the fourth quarter worth $329,000. AQR Capital Management LLC increased its position in shares of Red River Bancshares by 52.4% in the fourth quarter. AQR Capital Management LLC now owns 34,381 shares of the company’s stock worth $2,456,000 after purchasing an additional 11,822 shares during the period. Trexquant Investment LP increased its position in shares of Red River Bancshares by 28.2% in the fourth quarter. Trexquant Investment LP now owns 12,998 shares of the company’s stock worth $928,000 after purchasing an additional 2,859 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Red River Bancshares in the fourth quarter worth $206,000. Institutional investors own 27.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RRBI. Raymond James Financial reissued a “market perform” rating on shares of Red River Bancshares in a report on Tuesday, April 7th. Weiss Ratings reissued 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 report on Tuesday, March 31st. One 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 stock presently has a consensus rating of “Hold” and an average target price of $67.00.

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.