Red River Bancshares (NASDAQ:RRBI) Upgraded at Zacks Research

Zacks Research upgraded shares of Red River Bancshares (NASDAQ:RRBI) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Red River Bancshares currently has a consensus rating of “Buy” and an average target price of $67.00.

Red River Bancshares Stock Performance

Red River Bancshares stock opened at $90.35 on Monday. Red River Bancshares has a fifty-two week low of $46.33 and a fifty-two week high of $91.85. The firm’s 50-day simple moving average is $74.61 and its 200 day simple moving average is $68.21. The stock has a market cap of $594.50 million, a PE ratio of 14.14 and a beta of 0.51.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings data on Friday, January 30th. The company reported $1.73 EPS for the quarter, beating 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 12.58%. The firm had revenue of $33.19 million during the quarter, compared to analyst estimates of $32.19 million. As a group, analysts predict that Red River Bancshares will post 5.28 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 8th were paid a $0.15 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.60 annualized dividend and a yield of 0.7%. Red River Bancshares’s dividend payout ratio is presently 9.39%.

Institutional Trading of Red River Bancshares

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Red River Bancshares by 36.3% during the 1st 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. Goldman Sachs Group Inc. raised its stake in Red River Bancshares by 44.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock valued at $2,552,000 after acquiring an additional 15,205 shares during the period. Jane Street Group LLC bought a new stake in Red River Bancshares in the 1st quarter valued at about $315,000. Strs Ohio purchased a new stake in Red River Bancshares during the first quarter valued at about $26,000. Finally, Corton Capital Inc. bought a new position in Red River Bancshares during the second quarter worth about $245,000. 27.55% of the stock is currently owned by institutional investors.

About Red River Bancshares

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.