Red River Bancshares (NASDAQ:RRBI) Stock Rating Upgraded by Wall Street Zen

Red River Bancshares (NASDAQ:RRBI) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings downgraded Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Raymond James Financial started coverage on Red River Bancshares in a research note on Wednesday, July 1st. They issued a “market perform” rating for the company. Finally, Stephens raised their target price on Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $106.00.

Red River Bancshares Trading Up 0.6%

Red River Bancshares stock opened at $100.68 on Friday. Red River Bancshares has a 1-year low of $60.99 and a 1-year high of $103.49. The firm has a market capitalization of $662.47 million, a price-to-earnings ratio of 14.49 and a beta of 0.41. The firm’s fifty day moving average price is $95.09 and its two-hundred day moving average price is $91.49.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, July 30th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.76 by $0.02. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.65%. The company had revenue of $33.73 million during the quarter, compared to the consensus estimate of $33.66 million. On average, research analysts forecast that Red River Bancshares will post 7.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Red River Bancshares during the second quarter valued at about $35,053,000. Wellington Management Group LLP boosted its position in Red River Bancshares by 345.1% during the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after purchasing an additional 222,401 shares during the period. Boston Partners purchased a new position in shares of Red River Bancshares in the fourth quarter worth about $4,117,000. First Eagle Investment Management LLC purchased a new position in shares of Red River Bancshares in the fourth quarter worth about $3,528,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Red River Bancshares by 164.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock worth $6,546,000 after purchasing an additional 45,014 shares in the last quarter. Institutional investors 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.