Red River Bancshares (NASDAQ:RRBI) Reaches New 52-Week High – Should You Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $99.30 and last traded at $100.1290, with a volume of 3639 shares traded. The stock had previously closed at $97.50.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RRBI. Stephens lowered Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price objective on the stock. in a report on Tuesday, May 5th. Zacks Research lowered shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Raymond James Financial began coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They issued a “market perform” rating for the company. Finally, Weiss Ratings downgraded shares of Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Red River Bancshares currently has an average rating of “Hold” and a consensus price target of $80.50.

Red River Bancshares Stock Up 2.5%

The stock has a market cap of $657.81 million, a PE ratio of 14.94 and a beta of 0.42. The stock has a 50-day moving average of $91.68 and a 200 day moving average of $88.09.

Red River Bancshares (NASDAQ:RRBI) last issued its earnings results on Thursday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $32.94 million during the quarter, compared to analysts’ expectations of $33.03 million. Research analysts forecast 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%.

Institutional Trading of Red River Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of Red River Bancshares in the 1st quarter valued at $26,000. Clearstead Advisors LLC lifted its position in shares of 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 purchasing an additional 522 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of 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 purchasing an additional 681 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Red River Bancshares by 534.7% in 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 period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Red River Bancshares by 54.6% in 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 in the last quarter. 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.