Red River Bancshares (NASDAQ:RRBI) Issues Quarterly Earnings Results

Red River Bancshares (NASDAQ:RRBI) posted its quarterly earnings data on Thursday. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02, Zacks reports. The company had revenue of $33.70 million for the quarter, compared to analyst estimates of $33.66 million. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.65%.

Red River Bancshares Stock Performance

Shares of Red River Bancshares stock traded up $2.04 on Friday, hitting $100.55. The company had a trading volume of 107,978 shares, compared to its average volume of 95,635. Red River Bancshares has a 1 year low of $58.67 and a 1 year high of $103.49. The stock has a 50 day moving average of $93.93 and a 200-day moving average of $90.25. The stock has a market capitalization of $661.62 million, a price-to-earnings ratio of 14.47 and a beta of 0.42.

Red River Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were given a $0.25 dividend. 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 presently 14.97%.

Hedge Funds Weigh In On Red River Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio bought a new position in Red River Bancshares during the first quarter valued at about $26,000. Tower Research Capital LLC TRC grew its position in shares of Red River Bancshares by 534.7% during 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 during the period. BNP Paribas Financial Markets raised its holdings in shares of Red River Bancshares by 54.6% in the 3rd 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 period. Raymond James Financial Inc. purchased a new position in Red River Bancshares in the second quarter valued at approximately $117,000. Finally, Franklin Resources Inc. purchased a new position in Red River Bancshares in the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 27.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on RRBI shares. Wall Street Zen downgraded Red River Bancshares from a “hold” rating to a “sell” rating in a report on Saturday. Stephens upped their target price on Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday. Raymond James Financial started coverage on Red River Bancshares in a research note on Wednesday, July 1st. They set a “market perform” rating for the company. Finally, Weiss Ratings upgraded Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.00.

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.