Red River Bancshares (NASDAQ:RRBI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Red River Bancshares (NASDAQ:RRBI) issued its earnings results on Thursday. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02, Zacks reports. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%.

Red River Bancshares Trading Down 3.1%

RRBI stock traded down $3.17 during mid-day trading on Thursday, hitting $98.51. 156,017 shares of the company were exchanged, compared to its average volume of 92,388. Red River Bancshares has a 1-year low of $58.67 and a 1-year high of $103.49. The stock has a market capitalization of $648.20 million, a PE ratio of 14.75 and a beta of 0.42. The business has a 50 day simple moving average of $93.73 and a 200-day simple moving average of $90.18.

Red River Bancshares Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Red River Bancshares’s payout ratio is presently 14.97%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RRBI. Raymond James Financial started coverage on Red River Bancshares in a research report on Wednesday, July 1st. They set a “market perform” rating on the stock. Stephens cut Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price objective for the company. in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRBI. Jacobs Levy Equity Management Inc. increased its position in Red River Bancshares by 2.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock worth $670,000 after buying an additional 200 shares during the period. NewEdge Advisors LLC grew its stake in shares of Red River Bancshares by 5.8% in the third quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock valued at $351,000 after acquiring an additional 296 shares in the last quarter. State Street Corp grew 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 acquiring an additional 404 shares in the last quarter. Strs Ohio acquired a new position in shares of Red River Bancshares in the first quarter valued at about $26,000. Finally, Charles Schwab Investment Management Inc. increased its position in Red River Bancshares by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,160 shares of the company’s stock worth $1,011,000 after acquiring an additional 554 shares during the period. 27.55% of the stock is owned by institutional investors and hedge funds.

About Red River Bancshares

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.