Red River Bancshares (NASDAQ:RRBI) Issues Quarterly Earnings Results

Red River Bancshares (NASDAQ:RRBI) posted its earnings results on Thursday. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.10, Zacks reports. Red River Bancshares had a net margin of 24.44% and a return on equity of 12.14%.

Red River Bancshares Stock Up 6.1%

NASDAQ RRBI traded up $4.80 during trading hours on Friday, hitting $83.11. The company’s stock had a trading volume of 26,568 shares, compared to its average volume of 41,478. Red River Bancshares has a twelve month low of $46.33 and a twelve month high of $83.34. The firm has a market capitalization of $546.86 million, a P/E ratio of 13.78 and a beta of 0.52. The stock has a fifty day moving average of $73.16 and a 200 day moving average of $67.52.

Red River Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 8th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, December 8th. Red River Bancshares’s dividend payout ratio is currently 9.95%.

Hedge Funds Weigh In On Red River Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in shares of Red River Bancshares by 36.3% during the 1st quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after buying an additional 1,784 shares during the period. 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 valued at $2,552,000 after purchasing an additional 15,205 shares during the period. Jane Street Group LLC bought a new stake in Red River Bancshares in the first quarter valued at approximately $315,000. Strs Ohio acquired a new stake in Red River Bancshares in the first quarter worth $26,000. Finally, Geode Capital Management LLC boosted its position in shares of Red River Bancshares by 3.0% during the second quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock worth $6,527,000 after purchasing an additional 3,196 shares in the last quarter. Institutional investors own 27.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research cut Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Red River Bancshares currently has an average rating of “Moderate Buy” and an average target price of $67.00.

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.