Red River Bancshares (NASDAQ:RRBI) Sets New 1-Year High on Strong Earnings

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $82.64 and last traded at $81.57, with a volume of 21279 shares. The stock had previously closed at $78.31.

The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.63 by $0.10. Red River Bancshares had a return on equity of 12.14% and a net margin of 24.44%.

Red River Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Monday, December 8th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. Red River Bancshares’s dividend payout ratio (DPR) is currently 9.95%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RRBI shares. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Red River Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Red River Bancshares in the first quarter worth $26,000. State of Alaska Department of Revenue increased its stake in Red River Bancshares by 258.0% in the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock worth $66,000 after acquiring an additional 681 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Red River Bancshares by 534.7% in the 2nd 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 in the last quarter. BNP Paribas Financial Markets increased its position 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 purchasing an additional 571 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Red River Bancshares in the second quarter worth approximately $117,000. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

Red River Bancshares Price Performance

The firm has a market capitalization of $539.79 million, a PE ratio of 13.60 and a beta of 0.52. The business’s 50 day moving average is $73.16 and its two-hundred day moving average is $67.52.

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.