Red River Bancshares (NASDAQ:RRBI) Posts Earnings Results, Beats Expectations By $0.02 EPS

Red River Bancshares (NASDAQ:RRBI) announced its quarterly earnings data on Thursday. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02, Zacks reports. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%.

Red River Bancshares Stock Performance

NASDAQ:RRBI traded down $2.06 during trading hours on Thursday, reaching $99.62. The stock had a trading volume of 122,009 shares, compared to its average volume of 72,462. The stock has a market capitalization of $655.53 million, a PE ratio of 14.93 and a beta of 0.42. The company has a 50 day moving average price of $93.58 and a two-hundred day moving average price of $89.99. Red River Bancshares has a 52 week low of $58.67 and a 52 week high of $103.49.

Red River Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Red River Bancshares’s dividend payout ratio is 14.97%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RRBI. Strs Ohio purchased a new stake in shares of Red River Bancshares during the 1st quarter valued at approximately $26,000. Tower Research Capital LLC TRC grew 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 valued at $74,000 after purchasing an additional 1,064 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Red River Bancshares by 54.6% in the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock valued at $105,000 after purchasing an additional 571 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Red River Bancshares during the second quarter worth $117,000. Finally, Franklin Resources Inc. purchased a new position in Red River Bancshares in the 3rd quarter valued at $201,000. 27.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on RRBI. Raymond James Financial assumed coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They issued 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 report on Tuesday, July 21st. Finally, Stephens lowered Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target on the stock. in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Red River Bancshares presently has a consensus rating of “Hold” and an average price target of $80.50.

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.