Red River Bancshares (NASDAQ:RRBI) Reaches New 12-Month High – Here’s Why

Red River Bancshares, Inc. (NASDAQ:RRBI) reached a new 52-week high during trading on Friday . The stock traded as high as $76.79 and last traded at $77.29, with a volume of 6712 shares traded. The stock had previously closed at $74.36.

Analysts Set New Price Targets

Several research firms have recently issued reports on RRBI. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Red River Bancshares has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Red River Bancshares Stock Performance

The company has a fifty day simple moving average of $68.47 and a two-hundred day simple moving average of $64.52. The firm has a market capitalization of $495.54 million, a PE ratio of 12.49 and a beta of 0.51.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, October 30th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.08. Red River Bancshares had a net margin of 24.44% and a return on equity of 12.14%. The business had revenue of $31.91 million for the quarter, compared to the consensus estimate of $31.28 million. On average, equities analysts anticipate that Red River Bancshares, Inc. will post 5.28 earnings per share for the current fiscal year.

Red River Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Monday, December 8th were issued a $0.15 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. Red River Bancshares’s payout ratio is currently 9.95%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RRBI. Nuveen LLC purchased a new position in Red River Bancshares in the first quarter worth $666,000. Russell Investments Group Ltd. boosted its position in shares of Red River Bancshares by 6.6% in the 1st quarter. Russell Investments Group Ltd. now owns 19,684 shares of the company’s stock worth $1,017,000 after purchasing an additional 1,219 shares in the last quarter. Martingale Asset Management L P grew its stake in Red River Bancshares by 14.1% during the 1st quarter. Martingale Asset Management L P now owns 13,832 shares of the company’s stock worth $714,000 after buying an additional 1,705 shares during the last quarter. Trexquant Investment LP purchased a new position in Red River Bancshares during the 1st quarter worth $269,000. Finally, AQR Capital Management LLC raised its stake in Red River Bancshares by 36.3% in the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock valued at $346,000 after buying an additional 1,784 shares during 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.