Red River Bancshares (NASDAQ:RRBI) Sees Large Volume Increase – Here’s What Happened

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) saw unusually-strong trading volume on Monday . Approximately 35,079 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 42,461 shares.The stock last traded at $91.2650 and had previously closed at $91.04.

Wall Street Analyst Weigh In

Several research firms have issued reports on RRBI. Zacks Research upgraded shares of Red River Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $67.00.

Red River Bancshares Trading Down 0.5%

The firm’s 50-day simple moving average is $75.44 and its two-hundred day simple moving average is $68.64. The stock has a market capitalization of $596.01 million, a PE ratio of 14.18 and a beta of 0.51.

Red River Bancshares (NASDAQ:RRBI) last issued its earnings results on Friday, January 30th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.63 by $0.10. The business had revenue of $33.19 million during the quarter, compared to analysts’ expectations of $32.19 million. Red River Bancshares had a return on equity of 12.58% and a net margin of 25.18%. As a group, research analysts expect that Red River Bancshares, Inc. will post 5.28 earnings per share for the current year.

Red River Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Monday, December 8th were issued a $0.15 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. Red River Bancshares’s dividend payout ratio is currently 9.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Red River Bancshares by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 240,722 shares of the company’s stock valued at $15,604,000 after buying an additional 769 shares during the period. Geode Capital Management LLC grew its holdings in shares of Red River Bancshares by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock valued at $6,527,000 after acquiring an additional 3,196 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Red River Bancshares by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 102,494 shares of the company’s stock worth $6,644,000 after acquiring an additional 3,379 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Red River Bancshares by 44.5% during the first quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock worth $2,552,000 after acquiring an additional 15,205 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new stake in Red River Bancshares during the fourth quarter valued at $3,528,000. 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.