Red River Bancshares (NASDAQ:RRBI) Reaches New 12-Month High – What’s Next?

Red River Bancshares, Inc. (NASDAQ:RRBI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $104.65 and last traded at $102.86, with a volume of 70054 shares changing hands. The stock had previously closed at $103.36.

Wall Street Analyst Weigh In

RRBI has been the topic of a number of recent analyst reports. Weiss Ratings raised Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 19th. Stephens boosted their price objective on Red River Bancshares from $101.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Raymond James Financial began coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They issued a “market perform” rating for the company. Finally, Wall Street Zen raised shares of Red River Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $106.00.

Red River Bancshares Stock Performance

The firm has a market cap of $676.82 million, a P/E ratio of 14.80 and a beta of 0.41. The company has a 50 day moving average of $99.83 and a 200 day moving average of $93.93.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.47%. The business had revenue of $33.71 million for the quarter, compared to the consensus estimate of $33.66 million. As a group, analysts expect that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Red River Bancshares’s payout ratio is currently 14.39%.

Hedge Funds Weigh In On Red River Bancshares

Several large investors have recently made changes to their positions in the business. Strs Ohio bought a new stake in Red River Bancshares during the 1st quarter valued at approximately $26,000. Clearstead Advisors LLC lifted its holdings in shares of Red River Bancshares by 4,015.4% during the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock worth $38,000 after buying an additional 522 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Red River Bancshares during the second quarter worth approximately $46,000. Tower Research Capital LLC TRC boosted its position in shares of Red River Bancshares by 534.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock valued at $74,000 after acquiring an additional 1,064 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Red River Bancshares by 54.6% in the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after acquiring an additional 571 shares during the last quarter. 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.