Red River Bancshares (NASDAQ:RRBI) Sees Unusually-High Trading Volume – Here’s Why

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) saw an uptick in trading volume on Wednesday . 59,767 shares traded hands during mid-day trading, a decline of 14% from the previous session’s volume of 69,234 shares.The stock last traded at $97.1140 and had previously closed at $96.20.

Analysts Set New Price Targets

RRBI has been the subject of several research analyst reports. Stephens cut shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target for the company. in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, June 29th. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Raymond James Financial began coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Red River Bancshares has a consensus rating of “Hold” and a consensus price target of $80.50.

Red River Bancshares Stock Performance

The business has a 50-day simple moving average of $91.58 and a two-hundred day simple moving average of $87.92. The stock has a market cap of $643.82 million, a price-to-earnings ratio of 14.64 and a beta of 0.42.

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. The company had revenue of $32.94 million during the quarter, compared to analysts’ expectations of $33.03 million. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. On average, analysts expect that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.0%. Red River Bancshares’s dividend payout ratio (DPR) is 14.97%.

Institutional Investors Weigh In On Red River Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio bought a new position in shares of Red River Bancshares in the 1st quarter valued at about $26,000. Clearstead Advisors LLC raised its holdings in Red River Bancshares by 4,015.4% during the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock worth $38,000 after acquiring an additional 522 shares in the last quarter. State of Alaska Department of Revenue raised its holdings 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 acquiring an additional 681 shares in the last quarter. Tower Research Capital LLC TRC boosted its position 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 valued at $74,000 after purchasing an additional 1,064 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in 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 purchasing an additional 571 shares during the last quarter. 27.55% of the stock is owned by institutional investors.

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.