Red River Bancshares (NASDAQ:RRBI) Reaches New 12-Month High – Here’s Why

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) hit a new 52-week high on Monday . The stock traded as high as $98.85 and last traded at $96.6990, with a volume of 73042 shares. The stock had previously closed at $96.53.

Wall Street Analysts Forecast Growth

RRBI has been the topic of several research analyst reports. Raymond James Financial reaffirmed a “market perform” rating on shares of Red River Bancshares in a research report on Tuesday, April 7th. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.00.

Red River Bancshares Trading Up 0.3%

The company has a market capitalization of $636.82 million, a price-to-earnings ratio of 15.15 and a beta of 0.45. The company has a 50 day moving average price of $90.18 and a 200 day moving average price of $77.92.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Friday, January 30th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.10. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. The business had revenue of $33.19 million for the quarter, compared to analyst estimates of $32.19 million. Equities analysts predict that Red River Bancshares, Inc. will post 5.28 earnings per share for the current year.

Red River Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. This is a boost from Red River Bancshares’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, March 9th. Red River Bancshares’s payout ratio is currently 15.65%.

Hedge Funds Weigh In On Red River Bancshares

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Red River Bancshares in the 1st quarter valued at $189,000. Wellington Management Group LLP increased its holdings in Red River Bancshares by 345.1% in the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after buying an additional 222,401 shares during the period. Polymer Capital Management US LLC bought a new stake in Red River Bancshares during the fourth quarter worth $329,000. AQR Capital Management LLC raised its holdings in shares of Red River Bancshares by 52.4% during the 4th quarter. AQR Capital Management LLC now owns 34,381 shares of the company’s stock worth $2,456,000 after buying an additional 11,822 shares in the last quarter. Finally, Trexquant Investment LP increased its position in Red River Bancshares by 28.2% during the 4th quarter. Trexquant Investment LP now owns 12,998 shares of the company’s stock worth $928,000 after purchasing an additional 2,859 shares in the last quarter. 27.55% of the stock is currently owned by institutional investors and hedge funds.

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.