Red River Bancshares (NASDAQ:RRBI) Reaches New 52-Week High After Earnings Beat

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $104.95 and last traded at $103.87, with a volume of 23,391 shares. The stock had previously closed at $102.10.

The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.07. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%.

Red River Bancshares Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on RRBI shares. Weiss Ratings upgraded shares of Red River Bancshares from a “buy (b+)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Wall Street Zen raised Red River Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Stephens lifted their target price 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 research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Institutional Investors Weigh In On Red River Bancshares

Several hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC bought a new stake in shares of Red River Bancshares in the 2nd quarter worth about $395,000. Integrated Wealth Concepts LLC bought a new stake in Red River Bancshares during the 2nd quarter worth approximately $32,000. Bank of America Corp DE bought a new stake in Red River Bancshares in the 2nd quarter valued at $1,829,000. Canada Pension Plan Investment Board bought a new stake in Red River Bancshares in the 2nd quarter valued at approximately $557,000. Finally, Legal & General Group Plc acquired a new stake in Red River Bancshares in the 2nd quarter valued at $46,000. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Price Performance

The stock has a market capitalization of $684.66 million, a price-to-earnings ratio of 14.94 and a beta of 0.42. The firm has a 50-day moving average of $101.55 and a 200 day moving average of $93.88.

About Red River Bancshares

Red River Bancshares, Inc is the bank holding company for Red River Bank, a Louisiana-based financial institution headquartered in Alexandria. Founded in 1999, Red River Bank provides banking services to businesses, professionals, individuals and governmental entities.

Red River Bank offers commercial and consumer deposit accounts, commercial and residential real estate lending, construction and development loans, commercial and industrial financing, consumer loans and mortgage-related products.