Red River Bancshares (NASDAQ:RRBI) Sees Strong Trading Volume – Should You Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI) shares saw unusually-high trading volume on Tuesday . Approximately 83,553 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 61,334 shares.The stock last traded at $91.6150 and had previously closed at $90.84.

Analyst Ratings Changes

RRBI has been the subject of a number of analyst reports. Stephens downgraded Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target for the company. in a research note on Tuesday, May 5th. Zacks Research lowered Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Red River Bancshares in a report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.50.

Red River Bancshares Stock Up 2.6%

The company has a market cap of $613.00 million, a P/E ratio of 13.94 and a beta of 0.41. The company’s 50-day moving average is $91.89 and its two-hundred day moving average is $84.42.

Red River Bancshares (NASDAQ:RRBI) last released its earnings results on Thursday, April 30th. The company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.12. The firm had revenue of $32.94 million for the quarter, compared to analysts’ expectations of $33.03 million. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. On average, analysts anticipate that Red River Bancshares, Inc. will post 7.22 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, June 8th. Red River Bancshares’s dividend payout ratio (DPR) is currently 14.97%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new stake in shares of Red River Bancshares during the 1st quarter valued at $26,000. Clearstead Advisors LLC increased its holdings in shares of Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock worth $38,000 after purchasing an additional 522 shares during the period. State of Alaska Department of Revenue boosted its stake in Red River Bancshares by 258.0% during the fourth quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock valued at $66,000 after buying an additional 681 shares during the period. Tower Research Capital LLC TRC grew its position in Red River Bancshares by 534.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock worth $74,000 after buying an additional 1,064 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Red River Bancshares by 54.6% during the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after buying an additional 571 shares in 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.