Red River Bancshares (NASDAQ:RRBI) Hits New 1-Year High – What’s Next?

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $94.20 and last traded at $94.45, with a volume of 61601 shares. The stock had previously closed at $91.15.

Wall Street Analysts Forecast Growth

RRBI has been the topic of several analyst reports. Zacks Research downgraded Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Red River Bancshares in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Red River Bancshares Price Performance

The company has a market capitalization of $618.11 million, a PE ratio of 14.73 and a beta of 0.45. The company has a 50-day moving average of $88.78 and a two-hundred day moving average of $76.29.

Red River Bancshares (NASDAQ:RRBI) last released its earnings results on Friday, January 30th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.10. Red River Bancshares had a return on equity of 12.35% and a net margin of 25.18%.The company had revenue of $33.19 million for the quarter, compared to the consensus estimate of $32.19 million. As a group, research analysts anticipate that Red River Bancshares, Inc. will post 5.28 EPS for the current year.

Red River Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were given a dividend of $0.25 per share. This is an increase from Red River Bancshares’s previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, March 9th. Red River Bancshares’s dividend payout ratio (DPR) is 15.65%.

Institutional Trading of Red River Bancshares

Several institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Red River Bancshares by 345.1% during the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after purchasing an additional 222,401 shares in the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of Red River Bancshares during the fourth quarter worth about $329,000. AQR Capital Management LLC grew its position in shares of Red River Bancshares by 52.4% during the fourth quarter. AQR Capital Management LLC now owns 34,381 shares of the company’s stock worth $2,456,000 after purchasing an additional 11,822 shares in the last quarter. Trexquant Investment LP grew its position in shares of Red River Bancshares by 28.2% during the fourth quarter. Trexquant Investment LP now owns 12,998 shares of the company’s stock worth $928,000 after purchasing an additional 2,859 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Red River Bancshares during the fourth quarter worth about $206,000. 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.