Red River Bancshares (NASDAQ:RRBI) Rating Lowered to C at TheStreet

Red River Bancshares (NASDAQ:RRBIGet Rating) was downgraded by analysts at TheStreet from a “b” rating to a “c” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.

Separately, Zacks Investment Research upgraded shares of Red River Bancshares from a “sell” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Saturday, January 8th.

Shares of RRBI opened at $53.66 on Wednesday. The firm has a 50 day simple moving average of $51.92 and a two-hundred day simple moving average of $52.48. Red River Bancshares has a one year low of $46.93 and a one year high of $57.73. The company has a market cap of $385.33 million, a P/E ratio of 11.87 and a beta of 0.87.

Red River Bancshares (NASDAQ:RRBIGet Rating) last posted its quarterly earnings results on Friday, January 28th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.20. The company had revenue of $24.45 million during the quarter, compared to analysts’ expectations of $23.71 million. Red River Bancshares had a return on equity of 11.22% and a net margin of 32.36%. Equities analysts expect that Red River Bancshares will post 4.24 earnings per share for the current year.

In other news, Director Michael D. Crowell bought 1,000 shares of the company’s stock in a transaction on Thursday, March 10th. The stock was purchased at an average cost of $48.74 per share, for a total transaction of $48,740.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.50% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Red River Bancshares by 7.8% in the third quarter. Royal Bank of Canada now owns 2,644 shares of the company’s stock worth $132,000 after purchasing an additional 191 shares during the last quarter. Citigroup Inc. grew its position in shares of Red River Bancshares by 141.9% in the 3rd quarter. Citigroup Inc. now owns 520 shares of the company’s stock valued at $26,000 after buying an additional 305 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Red River Bancshares by 0.5% in the third quarter. Geode Capital Management LLC now owns 77,159 shares of the company’s stock valued at $3,846,000 after buying an additional 388 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Red River Bancshares by 110.8% during the third quarter. BNP Paribas Arbitrage SA now owns 1,206 shares of the company’s stock worth $60,000 after acquiring an additional 634 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Red River Bancshares by 43.0% in the fourth quarter. Acadian Asset Management LLC now owns 2,580 shares of the company’s stock worth $137,000 after acquiring an additional 776 shares during the period. 17.50% of the stock is owned by hedge funds and other institutional investors.

Red River Bancshares Company Profile (Get Rating)

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It also offers commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit.

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