Red River Bancshares, Inc. (NASDAQ:RRBI) Plans $0.25 Quarterly Dividend

Red River Bancshares, Inc. (NASDAQ:RRBI) declared a quarterly dividend on Thursday, May 28th. Investors of record on Monday, June 8th will be paid a dividend of 0.25 per share on Thursday, June 18th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, June 8th.

Red River Bancshares has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Red River Bancshares has a dividend payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Red River Bancshares to earn $7.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.5%.

Red River Bancshares Price Performance

Shares of RRBI stock opened at $92.44 on Friday. Red River Bancshares has a 12-month low of $54.05 and a 12-month high of $98.85. The firm has a market capitalization of $608.26 million, a price-to-earnings ratio of 13.84 and a beta of 0.42. The business has a 50 day simple moving average of $91.59 and a 200 day simple moving average of $82.88.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.12. The company had revenue of $32.94 million during the quarter, compared to analyst estimates of $33.03 million. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. On average, equities analysts anticipate that Red River Bancshares will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on RRBI shares. Stephens lowered Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target for the company. in a research note on Tuesday, May 5th. Raymond James Financial reaffirmed a “market perform” rating on shares of Red River Bancshares in a research note on Tuesday, April 7th. Finally, Zacks Research lowered Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $80.50.

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.