Red River Bancshares (NASDAQ:RRBI) Sees Large Volume Increase – Time to Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI) saw an uptick in trading volume on Tuesday . 83,553 shares changed hands during mid-day trading, an increase of 36% from the previous session’s volume of 61,334 shares.The stock last traded at $91.6150 and had previously closed at $90.84.

Wall Street Analyst Weigh In

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

Red River Bancshares Trading Up 0.2%

The stock’s fifty day moving average is $91.81 and its two-hundred day moving average is $84.06. The firm has a market cap of $598.75 million, a P/E ratio of 13.62 and a beta of 0.41.

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

Red River Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 8th will be given a $0.25 dividend. The ex-dividend date is Monday, June 8th. This represents a $1.00 annualized dividend and a yield of 1.1%. Red River Bancshares’s payout ratio is 14.97%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Red River Bancshares in the first quarter valued at $26,000. Clearstead Advisors LLC increased its stake in Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after acquiring an additional 522 shares during the last quarter. State of Alaska Department of Revenue increased its stake in 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 acquiring an additional 681 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Red River Bancshares by 534.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock valued at $74,000 after acquiring an additional 1,064 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Red River Bancshares by 54.6% during the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock valued at $105,000 after acquiring an additional 571 shares during the last quarter. 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.