Red River Bancshares (NASDAQ:RRBI) Reaches New 52-Week High – Here’s What Happened

Red River Bancshares, Inc. (NASDAQ:RRBI)’s share price hit a new 52-week high on Thursday . The stock traded as high as $104.63 and last traded at $103.7410, with a volume of 26762 shares traded. The stock had previously closed at $102.81.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RRBI. Weiss Ratings upgraded Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 19th. Wall Street Zen raised Red River Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Stephens raised their price objective on Red River Bancshares from $101.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Finally, Raymond James Financial began coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $106.00.

Red River Bancshares Price Performance

The firm has a market capitalization of $680.11 million, a price-to-earnings ratio of 14.87 and a beta of 0.41. The firm has a 50 day moving average price of $99.36 and a 200-day moving average price of $93.70.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.02. The business had revenue of $33.71 million during the quarter, compared to analysts’ expectations of $33.66 million. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.47%. Equities research analysts predict that Red River Bancshares, Inc. will post 7.26 earnings per share for the current year.

Red River Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Red River Bancshares’s dividend payout ratio is presently 14.39%.

Institutional Investors Weigh In On Red River Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in Red River Bancshares in the first quarter valued at $26,000. Clearstead Advisors LLC increased its position in shares of Red River Bancshares by 4,015.4% during the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock worth $38,000 after purchasing an additional 522 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Red River Bancshares during the second quarter worth about $46,000. Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchasing an additional 1,064 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Red River Bancshares by 54.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock valued at $105,000 after purchasing an additional 571 shares during the period. 27.55% of the stock is currently owned by institutional investors and hedge funds.

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.