Red River Bancshares (NASDAQ:RRBI) Reaches New 12-Month High – Still a Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $104.35 and last traded at $104.2050, with a volume of 7709 shares changing hands. The stock had previously closed at $102.33.

Wall Street Analyst Weigh In

RRBI has been the topic of a number of recent research reports. Stephens upped their price target on Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Weiss Ratings lowered shares of Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Red River Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Raymond James Financial started coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They set a “market perform” rating on the stock. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Red River Bancshares currently has an average rating of “Hold” and a consensus price target of $106.00.

Red River Bancshares Stock Performance

The company’s 50-day moving average price is $95.57 and its two-hundred day moving average price is $91.81. The stock has a market cap of $682.41 million, a PE ratio of 14.92 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.76 by $0.02. The firm had revenue of $33.73 million for the quarter, compared to analyst estimates of $33.66 million. Red River Bancshares had a return on equity of 12.65% and a net margin of 26.25%. Equities research analysts forecast that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, June 8th. Red River Bancshares’s dividend payout ratio is presently 14.39%.

Institutional Investors Weigh In On Red River Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. increased its holdings in Red River Bancshares by 2.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock valued at $670,000 after purchasing an additional 200 shares during the period. NewEdge Advisors LLC grew its position in shares of Red River Bancshares by 5.8% in the 3rd quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock worth $351,000 after buying an additional 296 shares during the last quarter. State Street Corp increased its stake in shares of Red River Bancshares by 0.4% during the fourth quarter. State Street Corp now owns 99,742 shares of the company’s stock valued at $7,125,000 after buying an additional 404 shares during the period. Strs Ohio bought a new position in shares of Red River Bancshares during the first quarter valued at approximately $26,000. Finally, Clearstead Advisors LLC lifted its stake in 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. Institutional investors own 27.55% of the company’s stock.

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.