Red River Bancshares (NASDAQ:RRBI) Sets New 1-Year High – What’s Next?

Red River Bancshares, Inc. (NASDAQ:RRBI) hit a new 52-week high on Thursday. The company traded as high as $109.84 and last traded at $108.60, with a volume of 3,009 shares changing hands. The stock had previously closed at $107.68.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RRBI shares. Weiss Ratings upgraded shares of Red River Bancshares from a “buy (b+)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Stephens reiterated an “equal weight” rating and issued a $115.00 target price on shares of Red River Bancshares in a report on Monday. Finally, Wall Street Zen upgraded shares of Red River Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.00.

Red River Bancshares Price Performance

The firm has a 50 day simple moving average of $102.08 and a 200-day simple moving average of $94.82. The company has a market cap of $681.36 million, a price-to-earnings ratio of 14.34 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Friday, October 30th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.07. The business had revenue of $34.81 million for the quarter, compared to analysts’ expectations of $34.27 million. Red River Bancshares had a net margin of 26.86% and a return on equity of 12.75%. Research analysts anticipate that Red River Bancshares, Inc. will post 7.36 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Tuesday, September 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.00 annualized dividend and a yield of 1.0%. Red River Bancshares’s payout ratio is currently 13.85%.

Hedge Funds Weigh In On Red River Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Red River Bancshares during the 3rd quarter valued at $211,000. Tidal Investments LLC purchased a new position in shares of Red River Bancshares in the 2nd quarter worth about $395,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Red River Bancshares during the 2nd quarter worth about $32,000. Bank of America Corp DE acquired a new position in Red River Bancshares during the second quarter valued at approximately $1,829,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Red River Bancshares during the second quarter worth approximately $557,000. Hedge funds and other institutional investors own 27.55% of the company’s stock.

About Red River Bancshares

Red River Bancshares, Inc is the bank holding company for Red River Bank, a Louisiana-based financial institution headquartered in Alexandria. Founded in 1999, Red River Bank provides banking services to businesses, professionals, individuals and governmental entities.

Red River Bank offers commercial and consumer deposit accounts, commercial and residential real estate lending, construction and development loans, commercial and industrial financing, consumer loans and mortgage-related products.