Red River Bancshares (NASDAQ:RRBI) Given Market Perform Rating at Raymond James Financial

Raymond James Financial reissued their market perform rating on shares of Red River Bancshares (NASDAQ:RRBI) in a research note published on Tuesday, Marketbeat reports.

Several other research firms also recently commented on RRBI. Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Zacks Research lowered Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Red River Bancshares has a consensus rating of “Hold” and a consensus price target of $67.00.

Red River Bancshares Price Performance

NASDAQ:RRBI opened at $91.15 on Tuesday. The firm’s 50 day simple moving average is $88.78 and its 200 day simple moving average is $76.29. Red River Bancshares has a one year low of $47.75 and a one year high of $93.90. The company has a market cap of $599.77 million, a PE ratio of 14.26 and a beta of 0.45.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Friday, January 30th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.63 by $0.10. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. The business had revenue of $33.19 million for the quarter, compared to the consensus estimate of $32.19 million. Equities research analysts expect that Red River Bancshares will post 5.28 EPS for the current year.

Red River Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were issued a dividend of $0.25 per share. 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 (DPR) is 15.65%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Red River Bancshares during the 1st quarter worth approximately $26,000. Clearstead Advisors LLC raised its position in shares of 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 acquiring an additional 522 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of 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 acquiring an additional 681 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Red River Bancshares by 534.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock worth $74,000 after acquiring an additional 1,064 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Red River Bancshares by 54.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after acquiring an additional 571 shares in 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.