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

Red River Bancshares (NASDAQ:RRBI) issued its quarterly earnings data on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.02, Zacks reports. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%.The business had revenue of $33.71 million for the quarter, compared to analyst estimates of $33.66 million.

Red River Bancshares Stock Performance

RRBI traded up $0.74 during trading on Thursday, reaching $103.55. 50,733 shares of the company traded hands, compared to its average volume of 69,458. Red River Bancshares has a 12-month low of $61.60 and a 12-month high of $104.63. The company has a market cap of $681.38 million, a P/E ratio of 14.92 and a beta of 0.41. The firm has a fifty day simple moving average of $98.86 and a 200 day simple moving average of $93.53.

Red River Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Red River Bancshares’s dividend payout ratio (DPR) is presently 14.39%.

Institutional Trading of Red River Bancshares

Several institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. increased its position in shares of Red River Bancshares by 2.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock valued at $670,000 after purchasing an additional 200 shares during the last quarter. NewEdge Advisors LLC grew its stake in Red River Bancshares by 5.8% in the third quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock worth $351,000 after purchasing an additional 296 shares in the last quarter. State Street Corp increased its stake in shares of Red River Bancshares by 0.4% in the fourth quarter. State Street Corp now owns 99,742 shares of the company’s stock valued at $7,125,000 after purchasing an additional 404 shares during the period. Strs Ohio bought a new stake in Red River Bancshares during the first quarter worth approximately $26,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Red River Bancshares by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,160 shares of the company’s stock worth $1,011,000 after purchasing an additional 554 shares during the period. Institutional investors and hedge funds own 27.55% of the company’s stock.

Analyst Upgrades and Downgrades

RRBI has been the subject of several recent research reports. Raymond James Financial initiated coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They set a “market perform” rating for the company. Wall Street Zen raised shares of Red River Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings upgraded Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 19th. Finally, Stephens raised their target price on shares of Red River Bancshares from $101.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $106.00.

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.