Red River Bancshares (NASDAQ:RRBI) Issues Earnings Results

Red River Bancshares (NASDAQ:RRBI) announced its quarterly earnings results on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.02, Zacks reports. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%.The firm had revenue of $33.71 million for the quarter, compared to analysts’ expectations of $33.66 million.

Red River Bancshares Price Performance

Shares of NASDAQ:RRBI opened at $101.52 on Friday. The company’s fifty day moving average price is $97.98 and its 200-day moving average price is $93.22. The firm has a market capitalization of $668.00 million, a price-to-earnings ratio of 14.61 and a beta of 0.41. Red River Bancshares has a one year low of $61.60 and a one year high of $104.35.

Red River Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Red River Bancshares’s dividend payout ratio is presently 14.39%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. raised its position in Red River Bancshares by 2.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock valued at $670,000 after purchasing an additional 200 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Red River Bancshares by 5.8% during the third quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock worth $351,000 after purchasing an additional 296 shares during the last quarter. State Street Corp boosted its holdings in shares of Red River Bancshares by 0.4% in the 4th quarter. State Street Corp now owns 99,742 shares of the company’s stock worth $7,125,000 after purchasing an additional 404 shares in the last quarter. Strs Ohio bought a new position in shares of Red River Bancshares during the 1st quarter valued at about $26,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Red River Bancshares by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,160 shares of the company’s stock valued at $1,011,000 after purchasing an additional 554 shares during the last quarter. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

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.