Red River Bancshares (NASDAQ:RRBI) Reaches New 12-Month High – Still a Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $79.24 and last traded at $79.45, with a volume of 8602 shares trading hands. The stock had previously closed at $75.69.

Analysts Set New Price Targets

Several research firms have issued reports on RRBI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Red River Bancshares in a report on Wednesday, October 8th. Zacks Research cut Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Red River Bancshares Price Performance

The business has a 50-day simple moving average of $71.58 and a 200 day simple moving average of $66.89. The firm has a market cap of $518.37 million, a PE ratio of 13.06 and a beta of 0.52.

Red River Bancshares (NASDAQ:RRBI) last released its earnings results on Thursday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.08. The company had revenue of $31.91 million during the quarter, compared to analyst estimates of $31.28 million. Red River Bancshares had a net margin of 24.44% and a return on equity of 12.14%. On average, equities analysts forecast that Red River Bancshares, Inc. will post 5.28 earnings per share for the current fiscal year.

Red River Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Monday, December 8th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, December 8th. Red River Bancshares’s dividend payout ratio is presently 9.95%.

Institutional Trading of Red River Bancshares

Several institutional investors have recently made changes to their positions in RRBI. Hillsdale Investment Management Inc. lifted its holdings in Red River Bancshares by 615.7% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 36,500 shares of the company’s stock worth $2,143,000 after purchasing an additional 31,400 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Red River Bancshares by 44.5% in the first quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock worth $2,552,000 after buying an additional 15,205 shares in the last quarter. SummerHaven Investment Management LLC bought a new position in shares of Red River Bancshares during the third quarter worth $852,000. Los Angeles Capital Management LLC grew its stake in Red River Bancshares by 195.9% during the second quarter. Los Angeles Capital Management LLC now owns 12,873 shares of the company’s stock valued at $756,000 after acquiring an additional 8,522 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Red River Bancshares during the first quarter valued at $315,000. 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.