Red River Bancshares (NASDAQ:RRBI) Stock Rating Lowered by Wall Street Zen

Red River Bancshares (NASDAQ:RRBI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other brokerages have also recently issued reports on RRBI. Raymond James Financial assumed coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They set a “market perform” rating for the company. Stephens increased their price target on shares of Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Weiss Ratings raised shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Red River Bancshares has an average rating of “Hold” and a consensus price target of $106.00.

Red River Bancshares Price Performance

NASDAQ:RRBI opened at $100.55 on Friday. Red River Bancshares has a 52-week low of $58.67 and a 52-week high of $103.49. The stock has a fifty day simple moving average of $93.93 and a 200-day simple moving average of $90.37. The company has a market capitalization of $661.62 million, a PE ratio of 14.47 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. The firm had revenue of $33.70 million for the quarter, compared to analysts’ expectations of $33.66 million. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.65%. As a group, equities analysts anticipate that Red River Bancshares will post 7.26 earnings per share for the current year.

Institutional Trading of Red River Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake 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 valued at $20,489,000 after buying an additional 222,401 shares during the period. Boston Partners acquired a new stake in Red River Bancshares during the fourth quarter worth approximately $4,117,000. First Eagle Investment Management LLC purchased a new stake in Red River Bancshares in the 4th quarter worth approximately $3,528,000. Arrowstreet Capital Limited Partnership grew its stake in 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 period. Finally, Sei Investments Co. acquired a new position in Red River Bancshares in the 1st quarter valued at $1,627,000. 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.