Red River Bancshares (NASDAQ:RRBI) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Red River Bancshares (NASDAQ:RRBI) released its quarterly earnings data on Thursday. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10, Zacks reports. Red River Bancshares had a net margin of 24.44% and a return on equity of 12.14%.

Red River Bancshares Trading Up 7.2%

Shares of Red River Bancshares stock traded up $5.64 during trading on Friday, hitting $83.95. The stock had a trading volume of 25,704 shares, compared to its average volume of 41,423. The business’s 50-day moving average is $73.16 and its 200 day moving average is $67.52. The firm has a market cap of $552.36 million, a price-to-earnings ratio of 13.92 and a beta of 0.52. Red River Bancshares has a 12 month low of $46.33 and a 12 month high of $83.34.

Red River Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Monday, December 8th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, December 8th. Red River Bancshares’s payout ratio is 9.95%.

Analysts Set New Price Targets

RRBI has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. Zacks Research downgraded Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Hedge Funds Weigh In On Red River Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. raised its position in shares of Red River Bancshares by 2.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock valued at $670,000 after buying an additional 200 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Red River Bancshares by 5.8% during the 3rd quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock valued at $351,000 after purchasing an additional 296 shares during the last quarter. Strs Ohio purchased a new position in Red River Bancshares in the 1st quarter worth $26,000. BNP Paribas Financial Markets lifted its stake in Red River Bancshares by 54.6% in the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after purchasing an additional 571 shares during the last quarter. Finally, Creative Planning boosted its position in Red River Bancshares by 3.9% during the third quarter. Creative Planning now owns 16,679 shares of the company’s stock valued at $1,081,000 after buying an additional 623 shares during the period. Hedge funds and other institutional investors own 27.55% of the company’s stock.

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.