Red River Bancshares (NASDAQ:RRBI) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Red River Bancshares (NASDAQ:RRBI) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Red River Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Red River Bancshares Price Performance

Shares of NASDAQ:RRBI opened at $91.54 on Tuesday. The company has a market capitalization of $602.33 million, a P/E ratio of 14.33 and a beta of 0.45. Red River Bancshares has a 1-year low of $46.33 and a 1-year high of $93.90. The firm’s 50 day simple moving average is $87.90 and its two-hundred day simple moving average is $75.61.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Friday, January 30th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. The firm had revenue of $33.19 million during the quarter, compared to analysts’ expectations of $32.19 million. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. On average, sell-side analysts anticipate that Red River Bancshares will post 5.28 earnings per share for the current fiscal year.

Red River Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, March 9th. This is a positive change from Red River Bancshares’s previous quarterly dividend of $0.15. Red River Bancshares’s dividend payout ratio is currently 15.65%.

Hedge Funds Weigh In On Red River Bancshares

Several hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new position in Red River Bancshares during the first quarter valued at $26,000. Clearstead Advisors LLC lifted its stake in Red River Bancshares by 4,015.4% in the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock worth $38,000 after purchasing an additional 522 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Red River Bancshares by 258.0% in the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock worth $66,000 after purchasing an additional 681 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Red River Bancshares by 534.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock valued at $74,000 after purchasing an additional 1,064 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Red River Bancshares by 54.6% during the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock valued at $105,000 after purchasing an additional 571 shares in the last quarter. Hedge funds and other 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.