Red River Bancshares (NASDAQ:RRBI) Sets New 12-Month High After Strong Earnings

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) hit a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $82.64 and last traded at $81.57, with a volume of 21279 shares trading hands. The stock had previously closed at $78.31.

The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.10. Red River Bancshares had a return on equity of 12.14% and a net margin of 24.44%.

Red River Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Monday, December 8th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, December 8th. Red River Bancshares’s dividend payout ratio (DPR) is presently 9.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RRBI. Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Zacks Research lowered Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Red River Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RRBI. Strs Ohio purchased a new stake in shares of Red River Bancshares during the 1st quarter valued at about $26,000. State of Alaska Department of Revenue grew its position in shares of Red River Bancshares by 258.0% during the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock valued at $66,000 after acquiring an additional 681 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of 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 worth $74,000 after purchasing an additional 1,064 shares in the last quarter. BNP Paribas Financial Markets raised 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 worth $105,000 after purchasing an additional 571 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Red River Bancshares during the second quarter valued at $117,000. 27.55% of the stock is owned by institutional investors.

Red River Bancshares Stock Up 4.8%

The stock has a market cap of $539.79 million, a P/E ratio of 13.60 and a beta of 0.52. The firm has a 50 day moving average price of $73.16 and a 200 day moving average price of $67.52.

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.