Red River Bancshares (NASDAQ:RRBI) Hits New 12-Month High – What’s Next?

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $95.32 and last traded at $95.20, with a volume of 37970 shares. The stock had previously closed at $93.81.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RRBI shares. Raymond James Financial reiterated a “market perform” rating on shares of Red River Bancshares in a research report on Tuesday, April 7th. Zacks Research downgraded shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Red River Bancshares presently has a consensus rating of “Hold” and an average target price of $67.00.

Red River Bancshares Stock Performance

The company has a market cap of $627.11 million, a price-to-earnings ratio of 14.92 and a beta of 0.45. The company’s 50 day moving average price is $90.00 and its 200 day moving average price is $77.40.

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

Red River Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Red River Bancshares’s previous quarterly dividend of $0.15. Red River Bancshares’s payout ratio is 15.65%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio bought a new position in shares of Red River Bancshares during the 1st quarter valued at $26,000. Clearstead Advisors LLC raised its holdings in shares of Red River Bancshares by 4,015.4% during the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after purchasing an additional 522 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of 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 holdings in shares of 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 raised its holdings in shares of Red River Bancshares by 54.6% during the 3rd 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. Institutional investors 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.