Stephens Forecasts Strong Price Appreciation for Red River Bancshares (NASDAQ:RRBI) Stock

Red River Bancshares (NASDAQ:RRBI) had its price target raised by analysts at Stephens from $101.00 to $106.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Stephens’ price objective would suggest a potential upside of 5.02% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Raymond James Financial initiated coverage on Red River Bancshares in a report on Wednesday, July 1st. They set a “market perform” rating on the stock. Weiss Ratings upgraded Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Red River Bancshares has a consensus rating of “Hold” and a consensus price target of $86.50.

Red River Bancshares Stock Up 2.5%

Shares of RRBI traded up $2.42 during trading hours on Friday, reaching $100.93. 64,811 shares of the company traded hands, compared to its average volume of 72,627. Red River Bancshares has a 12 month low of $58.67 and a 12 month high of $103.49. The company’s fifty day moving average price is $93.73 and its two-hundred day moving average price is $90.18. The company has a market capitalization of $664.62 million, a price-to-earnings ratio of 15.15 and a beta of 0.42.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.02. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. The company had revenue of $33.70 million during the quarter, compared to the consensus estimate of $33.66 million. On average, analysts expect that Red River Bancshares will post 7.26 EPS for the current year.

Institutional Investors Weigh In On Red River Bancshares

Several institutional investors have recently modified their holdings of RRBI. Strs Ohio purchased a new position in Red River Bancshares in the 1st quarter worth about $26,000. Clearstead Advisors LLC grew its stake in shares of Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock worth $38,000 after acquiring an additional 522 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Red River Bancshares by 258.0% in the fourth quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock worth $66,000 after acquiring an additional 681 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Red River Bancshares by 534.7% during the second 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 during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Red River Bancshares by 54.6% during the third 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 during the last quarter. 27.55% of the stock is owned by hedge funds and other institutional investors.

Red River Bancshares Company Profile

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.