Red River Bancshares (NASDAQ:RRBI) Sees Large Volume Increase – Time to Buy?

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) saw strong trading volume on Tuesday . Approximately 89,956 shares changed hands during mid-day trading, an increase of 28% from the previous session’s volume of 70,514 shares.The stock last traded at $98.2450 and had previously closed at $98.25.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RRBI shares. Zacks Research downgraded Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings downgraded Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Raymond James Financial initiated coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They set a “market perform” rating for the company. Finally, Stephens lowered shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price objective for the company. in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.50.

Red River Bancshares Trading Down 0.3%

The firm has a market cap of $644.85 million, a PE ratio of 14.67 and a beta of 0.42. The firm’s 50 day simple moving average is $92.15 and its 200 day simple moving average is $88.64.

Red River Bancshares (NASDAQ:RRBI) last issued its earnings results on Thursday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.12. The firm had revenue of $32.94 million for the quarter, compared to analysts’ expectations of $33.03 million. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%. As a group, equities research analysts predict that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were issued 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 (DPR) is currently 14.97%.

Institutional Trading of Red River Bancshares

Hedge funds have recently modified their holdings of the company. Steel Grove Capital Advisors LLC bought a new stake in shares of Red River Bancshares in the 4th quarter worth about $391,000. First Eagle Investment Management LLC bought a new position in shares of Red River Bancshares in the 4th quarter valued at about $3,528,000. Legato Capital Management LLC bought a new position in shares of Red River Bancshares in the 4th quarter valued at about $458,000. Arrowstreet Capital Limited Partnership grew its position in Red River Bancshares by 164.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock worth $6,546,000 after acquiring an additional 45,014 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Red River Bancshares in the first quarter worth about $1,627,000. 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.