Red River Bancshares (NASDAQ:RRBI) Upgraded 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.

A number of other research analysts also recently weighed in on the company. Stephens increased their price target on Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Weiss Ratings downgraded Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Finally, Raymond James Financial started coverage on Red River Bancshares in a research note on Wednesday, July 1st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $106.00.

Red River Bancshares Price Performance

Shares of NASDAQ RRBI opened at $102.39 on Friday. The company’s 50 day simple moving average is $95.32 and its 200 day simple moving average is $91.66. Red River Bancshares has a fifty-two week low of $60.99 and a fifty-two week high of $103.49. The firm has a market capitalization of $673.73 million, a P/E ratio of 14.73 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.65%. The firm had revenue of $33.73 million for the quarter, compared to analysts’ expectations of $33.66 million. Sell-side analysts expect that Red River Bancshares will post 7.26 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were paid a $0.25 dividend. 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 is presently 14.39%.

Institutional Investors Weigh In On Red River Bancshares

Several hedge funds have recently bought and sold shares of RRBI. BlackRock Inc. acquired a new stake in Red River Bancshares during the 2nd quarter worth $35,053,000. Wellington Management Group LLP grew its stake in Red River Bancshares by 345.1% in the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after acquiring an additional 222,401 shares during the period. Boston Partners acquired a new position in Red River Bancshares in the fourth quarter valued at about $4,117,000. First Eagle Investment Management LLC bought a new stake in shares of Red River Bancshares in the fourth quarter worth about $3,528,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Red River Bancshares by 164.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock worth $6,546,000 after acquiring an additional 45,014 shares in the last quarter. 27.55% of the stock is currently 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.