Zacks Research Downgrades Red River Bancshares (NASDAQ:RRBI) to Hold

Red River Bancshares (NASDAQ:RRBI) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Red River Bancshares Stock Up 2.1%

NASDAQ:RRBI opened at $92.32 on Tuesday. Red River Bancshares has a twelve month low of $46.33 and a twelve month high of $93.90. The company has a market cap of $607.19 million, a P/E ratio of 14.45 and a beta of 0.48. The business has a 50 day moving average price of $87.67 and a two-hundred day moving average price of $75.50.

Red River Bancshares (NASDAQ:RRBI) last released its earnings results on Friday, January 30th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.10. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. The business had revenue of $33.19 million during the quarter, compared to the consensus estimate of $32.19 million. As a group, analysts anticipate that Red River Bancshares will post 5.28 earnings per share for the current fiscal year.

Institutional Trading of Red River Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted 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 last quarter. Boston Partners bought a new stake in shares of Red River Bancshares in the 4th quarter valued at about $4,117,000. First Eagle Investment Management LLC bought a new stake in shares of Red River Bancshares in the 4th quarter valued at about $3,528,000. Goldman Sachs Group Inc. lifted its stake in Red River Bancshares by 44.5% in the 1st 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 last quarter. Finally, SummerHaven Investment Management LLC bought a new position in Red River Bancshares during the third quarter worth about $852,000. 27.55% of the stock is owned by institutional investors.

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.