Red River Bancshares (NASDAQ:RRBI) Hits New 1-Year High – What’s Next?

Red River Bancshares, Inc. (NASDAQ:RRBI)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $94.20 and last traded at $94.45, with a volume of 61601 shares. The stock had previously closed at $91.15.

Analysts Set New Price Targets

A number of analysts have commented on the company. Raymond James Financial reissued a “market perform” rating on shares of Red River Bancshares in a report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. Finally, Zacks Research lowered Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $67.00.

Red River Bancshares Stock Performance

The firm has a market cap of $618.11 million, a P/E ratio of 14.73 and a beta of 0.45. The stock has a fifty day simple moving average of $88.78 and a 200 day simple moving average of $76.29.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Friday, January 30th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. The firm had revenue of $33.19 million for the quarter, compared to the consensus estimate of $32.19 million. Red River Bancshares had a return on equity of 12.35% and a net margin of 25.18%. Research analysts predict that Red River Bancshares, Inc. will post 5.28 earnings per share for the current year.

Red River Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were paid a $0.25 dividend. This is an increase from Red River Bancshares’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Red River Bancshares’s dividend payout ratio (DPR) is 15.65%.

Hedge Funds Weigh In On Red River Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of RRBI. AQR Capital Management LLC boosted its stake in shares of Red River Bancshares by 36.3% in the 1st quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after buying an additional 1,784 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Red River Bancshares by 44.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock worth $2,552,000 after buying an additional 15,205 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Red River Bancshares in the 1st quarter worth $315,000. Strs Ohio purchased a new position in shares of Red River Bancshares in the 1st quarter worth $26,000. Finally, Geode Capital Management LLC boosted its stake 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 buying an additional 3,196 shares during 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.