Red River Bancshares (NASDAQ:RRBI) Hits New 1-Year High – Should You Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $101.56 and last traded at $99.72, with a volume of 99070 shares traded. The stock had previously closed at $99.49.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RRBI. Stephens cut shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price objective for the company. in a research note on Tuesday, May 5th. Raymond James Financial started coverage on Red River Bancshares in a report on Wednesday, July 1st. They set a “market perform” rating on the stock. Finally, Weiss Ratings upgraded Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $80.50.

Red River Bancshares Price Performance

The stock has a market cap of $669.05 million, a PE ratio of 15.22 and a beta of 0.42. The stock’s fifty day moving average is $93.58 and its 200-day moving average is $89.99.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.81 EPS for the quarter, beating 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 firm had revenue of $32.94 million for the quarter, compared to analyst estimates of $33.03 million. On average, sell-side analysts expect that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

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

Hedge Funds Weigh In On Red River Bancshares

Several large investors have recently modified their holdings of RRBI. Strs Ohio acquired a new stake in shares of Red River Bancshares during the 1st quarter worth about $26,000. Clearstead Advisors LLC lifted its position in Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after buying an additional 522 shares during the last quarter. 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 worth $66,000 after buying an additional 681 shares during the period. Tower Research Capital LLC TRC boosted its stake 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 during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Red River Bancshares by 54.6% during the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock valued at $105,000 after acquiring an additional 571 shares during the last quarter. Institutional investors and hedge funds 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.