Red River Bancshares (NASDAQ:RRBI) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Red River Bancshares (NASDAQ:RRBI) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other equities research analysts have also issued research reports about the stock. Stephens lifted their target price on shares of Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday. Weiss Ratings raised shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 21st. Finally, Raymond James Financial started coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Red River Bancshares has a consensus rating of “Hold” and a consensus target price of $106.00.

Red River Bancshares Stock Up 2.1%

Shares of RRBI stock opened at $100.55 on Friday. The firm has a market capitalization of $661.62 million, a price-to-earnings ratio of 14.47 and a beta of 0.42. The stock has a fifty day moving average of $93.93 and a 200 day moving average of $90.25. Red River Bancshares has a 52 week low of $58.67 and a 52 week high of $103.49.

Red River Bancshares (NASDAQ:RRBI) last issued 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 business had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.66 million. Equities research analysts anticipate that Red River Bancshares will post 7.26 earnings per share for the current year.

Red River Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Red River Bancshares’s dividend payout ratio is currently 14.97%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Red River Bancshares by 36.3% during the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after acquiring an additional 1,784 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Red River Bancshares by 44.5% during the first 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 in the last quarter. Jane Street Group LLC purchased a new position in shares of Red River Bancshares during the first quarter valued at approximately $315,000. Strs Ohio purchased a new position in shares of Red River Bancshares during the first quarter valued at approximately $26,000. Finally, Geode Capital Management LLC boosted its position in shares of Red River Bancshares by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock worth $6,527,000 after purchasing an additional 3,196 shares in the last quarter. 27.55% of the stock is 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.