Red River Bancshares (NASDAQ:RRBI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Red River Bancshares (NASDAQ:RRBI) from a sell rating to a hold rating in a research note released on Sunday morning.

A number of other research analysts have also commented on the company. Stephens upped their price target on Red River Bancshares from $101.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Weiss Ratings cut shares of Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday. Finally, Raymond James Financial began coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Red River Bancshares has an average rating of “Hold” and a consensus price target of $106.00.

Red River Bancshares Stock Performance

Shares of NASDAQ:RRBI opened at $100.11 on Friday. The stock’s 50-day moving average is $94.89 and its 200-day moving average is $91.32. The company has a market cap of $658.72 million, a P/E ratio of 14.40 and a beta of 0.41. Red River Bancshares has a 52-week low of $60.99 and a 52-week high of $103.49.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.02. Red River Bancshares had a return on equity of 12.65% and a net margin of 26.25%.The business had revenue of $33.73 million during the quarter, compared to analysts’ expectations of $33.66 million. As a group, equities analysts predict that Red River Bancshares will post 7.26 EPS for the current year.

Red River Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, June 8th. Red River Bancshares’s dividend payout ratio (DPR) is currently 14.39%.

Institutional Trading of Red River Bancshares

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Red River Bancshares during the second quarter worth approximately $35,053,000. Wellington Management Group LLP boosted its holdings in shares of Red River Bancshares by 345.1% in the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after acquiring an additional 222,401 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Red River Bancshares by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 240,722 shares of the company’s stock worth $15,604,000 after acquiring an additional 769 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Red River Bancshares by 12.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 125,314 shares of the company’s stock worth $11,333,000 after acquiring an additional 13,866 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Red River Bancshares by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 113,509 shares of the company’s stock worth $8,110,000 after acquiring an additional 2,722 shares during the last quarter. 27.55% of the stock is owned by institutional investors.

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.