Red River Bancshares (NASDAQ:RRBI) Stock Rating Upgraded by Zacks Research

Red River Bancshares (NASDAQ:RRBI) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $67.00.

Red River Bancshares Trading Up 1.8%

Shares of NASDAQ RRBI opened at $88.98 on Monday. The firm has a market cap of $585.49 million, a PE ratio of 13.92 and a beta of 0.51. Red River Bancshares has a 1-year low of $46.33 and a 1-year high of $90.46. The company has a fifty day moving average price of $74.21 and a 200 day moving average price of $68.06.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Friday, January 30th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. Red River Bancshares had a return on equity of 12.58% and a net margin of 25.18%.The firm had revenue of $33.19 million during the quarter, compared to the consensus estimate of $32.19 million. Equities research analysts forecast that Red River Bancshares will post 5.28 EPS for the current year.

Institutional Trading of Red River Bancshares

Hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in Red River Bancshares in the 1st quarter valued at $26,000. State of Alaska Department of Revenue increased its position in Red River Bancshares by 258.0% during the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock worth $66,000 after buying an additional 681 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of 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 worth $74,000 after buying an additional 1,064 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Red River Bancshares by 54.6% in 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 period. Finally, Raymond James Financial Inc. acquired a new position in shares of Red River Bancshares in the second quarter valued at about $117,000. 27.55% of the stock is owned by institutional investors and hedge funds.

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.