Zacks Investment Research Lowers Red River Bancshares (NASDAQ:RRBI) to Sell

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Zacks Investment Research lowered shares of Red River Bancshares (NASDAQ:RRBI) from a hold rating to a sell rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Red River Bancshares Inc. is the bank holding company for Red River Bank, a state-chartered bank. It provides banking products and services to commercial and retail customers. The company offers checking accounts, money market accounts, time deposits, real estate loans, commercial loans, treasury management services and private banking services, residential mortgage lending and investment services. Red River Bancshares Inc. is based in Alexandria, Louisiana. “

RRBI has been the subject of a number of other research reports. FIG Partners assumed coverage on shares of Red River Bancshares in a research report on Tuesday, May 21st. They set an outperform rating and a $60.00 target price for the company. Stephens assumed coverage on shares of Red River Bancshares in a research report on Tuesday, May 28th. They set an equal weight rating and a $54.00 target price for the company.

Shares of NASDAQ:RRBI opened at $45.10 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.91 and a quick ratio of 0.89. The stock’s fifty day moving average is $47.38. Red River Bancshares has a fifty-two week low of $44.85 and a fifty-two week high of $58.00.

Red River Bancshares (NASDAQ:RRBI) last issued its earnings results on Monday, July 29th. The company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.10). The company had revenue of $19.75 million for the quarter, compared to analysts’ expectations of $19.26 million. Research analysts anticipate that Red River Bancshares will post 3.36 earnings per share for the current year.

Several large investors have recently modified their holdings of RRBI. ELCO Management Co. LLC bought a new position in Red River Bancshares during the second quarter valued at $1,043,000. Advisor Group Inc. bought a new position in Red River Bancshares during the second quarter valued at $132,000. Maltese Capital Management LLC bought a new position in Red River Bancshares during the second quarter valued at $2,907,000. EJF Capital LLC bought a new position in Red River Bancshares during the second quarter valued at $616,000. Finally, Castine Capital Management LLC bought a new position in Red River Bancshares during the second quarter valued at $2,289,000. Hedge funds and other institutional investors own 0.43% of the company’s stock.

Red River Bancshares Company Profile

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to businesses, professionals, individuals, and public entities in Louisiana. It provides consumer checking accounts, money market accounts, and time deposits; real estate loans, commercial loans, treasury management services; and private banking services, residential mortgage lending, and investment services.

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