Red River Bancshares (NASDAQ:RRBI) Reaches New 12-Month High – What’s Next?

Red River Bancshares, Inc. (NASDAQ:RRBI) shares hit a new 52-week high on Wednesday . The company traded as high as $100.80 and last traded at $97.98, with a volume of 173654 shares trading hands. The stock had previously closed at $98.25.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RRBI. Stephens downgraded Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price objective for the company. in a report on Tuesday, May 5th. Raymond James Financial began coverage on Red River Bancshares in a research report on Wednesday, July 1st. They issued a “market perform” rating on the stock. Zacks Research cut Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Weiss Ratings downgraded Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.50.

Red River Bancshares Stock Down 0.3%

The stock has a market cap of $645.20 million, a PE ratio of 14.67 and a beta of 0.42. The company’s fifty day moving average is $92.32 and its 200 day moving average is $88.82.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.12. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. The company had revenue of $32.94 million during the quarter, compared to the consensus estimate of $33.03 million. Equities analysts expect that Red River Bancshares, Inc. will post 7.26 EPS for the current year.

Red River Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, June 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Red River Bancshares’s payout ratio is presently 14.97%.

Institutional Trading of Red River Bancshares

Several large investors have recently added to or reduced their stakes in RRBI. Wellington Management Group LLP raised its position in Red River Bancshares by 345.1% in the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after purchasing an additional 222,401 shares during the period. Vanguard Group Inc. boosted its position in shares of Red River Bancshares by 0.3% in the third quarter. Vanguard Group Inc. now owns 240,722 shares of the company’s stock worth $15,604,000 after buying an additional 769 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Red River Bancshares by 12.4% in the first quarter. Dimensional Fund Advisors LP now owns 125,314 shares of the company’s stock valued at $11,333,000 after buying an additional 13,866 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Red River Bancshares by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 113,509 shares of the company’s stock valued at $8,110,000 after buying an additional 2,722 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Red River Bancshares by 0.4% during the 4th quarter. State Street Corp now owns 99,742 shares of the company’s stock valued at $7,125,000 after buying an additional 404 shares during the period. 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.