Red River Bancshares (NASDAQ:RRBI) Stock Price Up 0% – Time to Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI)’s stock price were up 0% during mid-day trading on Monday . The stock traded as high as $75.60 and last traded at $74.22. Approximately 69,623 shares traded hands during mid-day trading, an increase of 111% from the average daily volume of 32,960 shares. The stock had previously closed at $74.21.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RRBI shares. Zacks Research lowered Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Red River Bancshares Price Performance

The firm has a market cap of $488.14 million, a PE ratio of 12.31 and a beta of 0.51. The stock has a 50-day moving average price of $67.63 and a 200 day moving average price of $64.07.

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

Red River Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Monday, December 8th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. Red River Bancshares’s dividend payout ratio (DPR) is currently 9.95%.

Hedge Funds Weigh In On Red River Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its stake in shares of Red River Bancshares by 11.5% during the 2nd quarter. Acadian Asset Management LLC now owns 47,208 shares of the company’s stock valued at $2,769,000 after buying an additional 4,857 shares during the period. Voya Investment Management LLC raised its position in shares of Red River Bancshares by 32.8% in the 1st quarter. Voya Investment Management LLC now owns 6,721 shares of the company’s stock worth $347,000 after buying an additional 1,659 shares during the period. Trexquant Investment LP acquired a new position in Red River Bancshares in the first quarter valued at $269,000. Nuveen LLC purchased a new stake in Red River Bancshares during the first quarter valued at about $666,000. Finally, Russell Investments Group Ltd. grew its position in Red River Bancshares by 6.6% during the first quarter. Russell Investments Group Ltd. now owns 19,684 shares of the company’s stock valued at $1,017,000 after acquiring an additional 1,219 shares during the period. Institutional investors and hedge funds own 27.55% of the company’s stock.

About Red River Bancshares

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It offers commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit.