Red River Bancshares (NASDAQ:RRBI) Hits New 52-Week High – Should You Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI) shares hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $109.84 and last traded at $108.60, with a volume of 3,009 shares trading hands. The stock had previously closed at $107.68.

Analyst Ratings Changes

RRBI has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Red River Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Stephens reaffirmed an “equal weight” rating and issued a $115.00 target price on shares of Red River Bancshares in a report on Monday. Finally, Weiss Ratings upgraded shares of Red River Bancshares from a “buy (b+)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Red River Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $115.00.

Red River Bancshares Price Performance

The company has a market capitalization of $701.49 million, a PE ratio of 14.73 and a beta of 0.41. The stock has a 50-day simple moving average of $101.97 and a 200 day simple moving average of $94.53.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Friday, October 30th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.07. The business had revenue of $34.31 million during the quarter, compared to the consensus estimate of $34.27 million. Red River Bancshares had a return on equity of 12.75% and a net margin of 26.86%. As a group, research analysts predict that Red River Bancshares, Inc. will post 7.34 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Tuesday, September 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 8th. Red River Bancshares’s dividend payout ratio is presently 13.85%.

Hedge Funds Weigh In On Red River Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Red River Bancshares in the second quarter valued at about $32,000. Legal & General Group Plc purchased a new position in shares of Red River Bancshares during the 2nd quarter worth approximately $46,000. SG Americas Securities LLC acquired a new position in shares of Red River Bancshares during the 1st quarter worth approximately $189,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Red River Bancshares during the 3rd quarter worth approximately $211,000. Finally, First Trust Advisors LP acquired a new position in shares of Red River Bancshares during the 1st quarter worth approximately $215,000. Institutional investors and hedge funds own 27.55% of the company’s stock.

Red River Bancshares Company Profile

Red River Bancshares, Inc is the bank holding company for Red River Bank, a Louisiana-based financial institution headquartered in Alexandria. Founded in 1999, Red River Bank provides banking services to businesses, professionals, individuals and governmental entities.

Red River Bank offers commercial and consumer deposit accounts, commercial and residential real estate lending, construction and development loans, commercial and industrial financing, consumer loans and mortgage-related products.