Red River Bancshares (NASDAQ:RRBI) Sets New 1-Year High – Time to Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $104.63 and last traded at $103.7410, with a volume of 26762 shares trading hands. The stock had previously closed at $102.81.

Analyst Ratings Changes

Several research analysts have recently commented on RRBI shares. Stephens lifted their price target on Red River Bancshares from $101.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Wall Street Zen raised shares of Red River Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Raymond James Financial initiated coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They set a “market perform” rating on the stock. Finally, Weiss Ratings upgraded shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, August 19th. One research 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, the company has a consensus rating of “Hold” and a consensus price target of $106.00.

Red River Bancshares Price Performance

The firm has a 50 day simple moving average of $98.86 and a 200-day simple moving average of $93.53. The company has a market cap of $685.27 million, a price-to-earnings ratio of 14.98 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, July 30th. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%.The company had revenue of $33.71 million for the quarter, compared to the consensus estimate of $33.66 million. Research analysts anticipate that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Red River Bancshares’s dividend payout ratio (DPR) is presently 14.39%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in Red River Bancshares by 12.4% during the first quarter. Dimensional Fund Advisors LP now owns 125,314 shares of the company’s stock worth $11,333,000 after buying an additional 13,866 shares during the period. Sei Investments Co. purchased a new stake in shares of Red River Bancshares in the 1st quarter valued at approximately $1,627,000. Steel Grove Capital Advisors LLC purchased a new stake in shares of Red River Bancshares in the 4th quarter valued at approximately $391,000. BlackRock Inc. acquired a new position in shares of Red River Bancshares in the 2nd quarter worth approximately $35,053,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Red River Bancshares by 164.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock worth $6,546,000 after acquiring an additional 45,014 shares during the last quarter. Institutional investors and hedge funds own 27.55% of the company’s stock.

Red River Bancshares Company Profile

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.