Red River Bancshares (NASDAQ:RRBI) Reaches New 1-Year High – Time to Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $104.65 and last traded at $102.86, with a volume of 70054 shares traded. The stock had previously closed at $103.36.

Wall Street Analyst Weigh In

RRBI has been the subject of a number of research analyst reports. Raymond James Financial assumed coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They set a “market perform” rating for the company. Weiss Ratings upgraded Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, August 19th. Wall Street Zen raised Red River Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Stephens lifted their price objective on Red River Bancshares from $101.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $106.00.

Red River Bancshares Price Performance

The firm has a market cap of $676.82 million, a P/E ratio of 14.80 and a beta of 0.41. The stock’s 50 day moving average is $99.83 and its two-hundred day moving average is $93.93.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.02. The firm had revenue of $33.71 million during the quarter, compared to analysts’ expectations of $33.66 million. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.47%. As a group, research analysts forecast that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 8th. Red River Bancshares’s dividend payout ratio (DPR) is 14.39%.

Institutional Trading of Red River Bancshares

A number of large investors have recently bought and sold shares of RRBI. Jacobs Levy Equity Management Inc. raised its stake in Red River Bancshares by 2.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock worth $670,000 after acquiring an additional 200 shares in the last quarter. NewEdge Advisors LLC boosted its stake 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 valued at $351,000 after purchasing an additional 296 shares in the last quarter. State Street Corp grew its holdings in shares of Red River Bancshares by 0.4% in the 4th quarter. State Street Corp now owns 99,742 shares of the company’s stock worth $7,125,000 after purchasing an additional 404 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Red River Bancshares during the 2nd quarter worth about $46,000. Finally, Strs Ohio acquired a new stake in shares of Red River Bancshares during the 1st quarter worth about $26,000. 27.55% of the stock is currently owned by 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.