Red River Bancshares (NASDAQ:RRBI) Receives “Market Perform” Rating from Raymond James Financial

Red River Bancshares (NASDAQ:RRBI)‘s stock had its “market perform” rating reissued by research analysts at Raymond James Financial in a research report issued on Wednesday,Benzinga reports.

Other research analysts also recently issued research reports about the company. Weiss Ratings lowered shares of Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Stephens downgraded shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 target price for the company. in a report on Tuesday, May 5th. One investment 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, the stock presently has a consensus rating of “Hold” and an average price target of $80.50.

Red River Bancshares Price Performance

NASDAQ RRBI opened at $91.28 on Wednesday. The business has a 50 day moving average price of $91.07 and a 200 day moving average price of $86.39. The company has a market capitalization of $600.62 million, a P/E ratio of 13.66 and a beta of 0.41. Red River Bancshares has a 1-year low of $58.12 and a 1-year high of $98.85.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, April 30th. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.12. The company had revenue of $32.94 million for the quarter, compared to the consensus estimate of $33.03 million. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%. On average, research analysts expect that Red River Bancshares will post 7.22 earnings per share for the current fiscal year.

Institutional Trading of Red River Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in Red River Bancshares during the 1st quarter worth about $26,000. Clearstead Advisors LLC raised its stake in Red River Bancshares by 4,015.4% in the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after purchasing an additional 522 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Red River Bancshares by 258.0% in the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock valued at $66,000 after purchasing an additional 681 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Red River Bancshares by 534.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock valued at $74,000 after purchasing an additional 1,064 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Red River Bancshares by 54.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock valued at $105,000 after purchasing an additional 571 shares in the last quarter. 27.55% of the stock is currently owned by hedge funds and other 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.