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

Red River Bancshares, Inc. (NASDAQ:RRBI) hit a new 52-week high during trading on Wednesday . The stock traded as high as $100.80 and last traded at $97.98, with a volume of 173654 shares traded. The stock had previously closed at $98.25.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Stephens cut shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target on the stock. in a research note on Tuesday, May 5th. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Raymond James Financial began coverage on shares of Red River Bancshares in a report 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 research report on Tuesday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $80.50.

Red River Bancshares Trading Up 0.6%

The stock has a market cap of $639.77 million, a price-to-earnings ratio of 14.56 and a beta of 0.42. The firm’s 50 day moving average is $92.64 and its two-hundred day moving average is $89.19.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.12. The company had revenue of $32.94 million for 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%. As a group, equities analysts expect that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were given a dividend of $0.25 per share. The ex-dividend date 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 Inflows and Outflows

Several institutional investors have recently bought and sold shares of RRBI. Wellington Management Group LLP lifted its stake in shares of Red River Bancshares by 345.1% during the 4th 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 during the period. Boston Partners purchased a new stake in shares of Red River Bancshares in the fourth quarter valued at $4,117,000. First Eagle Investment Management LLC purchased a new stake in shares of Red River Bancshares in the fourth quarter valued at $3,528,000. Arrowstreet Capital Limited Partnership increased its stake in Red River Bancshares by 164.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock valued at $6,546,000 after purchasing an additional 45,014 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Red River Bancshares in the first quarter valued at $1,627,000. 27.55% of the stock is currently owned by institutional investors and hedge funds.

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.