Red River Bancshares (NASDAQ:RRBI) Stock Price Down 0.4% – Here’s Why

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) dropped 0.4% on Tuesday . The company traded as low as $90.66 and last traded at $91.28. 48,628 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 107,294 shares. The stock had previously closed at $91.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stephens downgraded shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target on the stock. in a research note on Tuesday, May 5th. Raymond James Financial reiterated a “market perform” rating on shares of Red River Bancshares in a research report on Tuesday, April 7th. Weiss Ratings restated a “buy (b+)” rating on shares of Red River Bancshares in a research report on Monday, June 15th. Finally, Zacks Research cut Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. One 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 stock currently has a consensus rating of “Hold” and an average price target of $80.50.

Red River Bancshares Stock Down 0.4%

The company’s 50 day simple moving average is $91.07 and its 200-day simple moving average is $86.39. The firm has a market cap of $600.62 million, a P/E ratio of 13.66 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.12. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%.The firm had revenue of $32.94 million for the quarter, compared to the consensus estimate of $33.03 million. Equities research analysts predict that Red River Bancshares, Inc. will post 7.22 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. Stockholders of record on Monday, June 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, June 8th. Red River Bancshares’s dividend payout ratio (DPR) is 14.97%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in shares of Red River Bancshares during the first quarter worth approximately $26,000. Clearstead Advisors LLC increased its holdings in Red River Bancshares by 4,015.4% during the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock worth $38,000 after purchasing an additional 522 shares during the period. State of Alaska Department of Revenue raised its position in Red River Bancshares by 258.0% during the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock valued at $66,000 after purchasing an additional 681 shares in the last quarter. Tower Research Capital LLC TRC raised its position in 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 purchasing an additional 1,064 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted 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 buying an additional 571 shares during the period. Hedge funds and other institutional investors own 27.55% of the company’s stock.

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.