Red River Bancshares (NASDAQ:RRBI) Sees Strong Trading Volume – Should You Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI) shares saw strong trading volume on Thursday . 65,416 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 51,709 shares.The stock last traded at $89.2860 and had previously closed at $90.58.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RRBI shares. Zacks Research raised Red River Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Red River Bancshares currently has a consensus rating of “Buy” and a consensus price target of $67.00.

Red River Bancshares Stock Performance

The stock’s 50 day simple moving average is $86.82 and its 200 day simple moving average is $74.88. The firm has a market cap of $591.54 million, a P/E ratio of 14.07 and a beta of 0.48.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Friday, January 30th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.10. The firm had revenue of $33.19 million for the quarter, compared to analyst estimates of $32.19 million. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. As a group, analysts forecast that Red River Bancshares, Inc. will post 5.28 EPS for the current fiscal year.

Red River Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were issued a $0.25 dividend. The ex-dividend date was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Red River Bancshares’s previous quarterly dividend of $0.15. Red River Bancshares’s dividend payout ratio (DPR) is currently 15.65%.

Hedge Funds Weigh In On Red River Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Red River Bancshares by 345.1% during the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after purchasing an additional 222,401 shares in the last quarter. Boston Partners bought a new position in shares of Red River Bancshares in the fourth quarter valued at approximately $4,117,000. First Eagle Investment Management LLC purchased a new position in shares of Red River Bancshares during the fourth quarter valued at approximately $3,528,000. Goldman Sachs Group Inc. grew its holdings in Red River Bancshares by 44.5% during 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. Finally, SummerHaven Investment Management LLC purchased a new stake in Red River Bancshares in the 3rd quarter valued at $852,000. Institutional investors and hedge funds own 27.55% of the company’s stock.

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.