Red River Bancshares (NASDAQ:RRBI) Sets New 1-Year High After Better-Than-Expected Earnings

Red River Bancshares, Inc. (NASDAQ:RRBI) shares hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $82.64 and last traded at $81.57, with a volume of 21279 shares trading hands. The stock had previously closed at $78.31.

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 24.44% and a return on equity of 12.14%. The company had revenue of $33.19 million for the quarter, compared to analysts’ expectations of $32.19 million.

Red River Bancshares Dividend Announcement

The business also recently disclosed 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 of this dividend was Monday, December 8th. This represents a $0.60 annualized dividend and a yield of 0.7%. Red River Bancshares’s payout ratio is currently 9.95%.

Analyst Upgrades and Downgrades

RRBI has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Zacks Research downgraded shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. 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 has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Hedge Funds Weigh In On Red River Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of RRBI. Strs Ohio acquired a new stake in shares of Red River Bancshares during the first quarter valued at about $26,000. State of Alaska Department of Revenue increased its stake in shares of Red River Bancshares by 258.0% in the fourth quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock valued at $66,000 after buying an additional 681 shares during the period. Tower Research Capital LLC TRC raised its holdings in 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 valued at $74,000 after buying an additional 1,064 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Red River Bancshares by 54.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after buying an additional 571 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Red River Bancshares during the 2nd quarter worth approximately $117,000. Institutional investors and hedge funds own 27.55% of the company’s stock.

Red River Bancshares Stock Performance

The stock’s fifty day simple moving average is $73.47 and its two-hundred day simple moving average is $67.66. The stock has a market capitalization of $546.53 million, a P/E ratio of 13.77 and a beta of 0.52.

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.