Red River Bancshares (NASDAQ:RRBI) Downgraded to C at TheStreet

TheStreet downgraded shares of Red River Bancshares (NASDAQ:RRBI) from a b- rating to a c rating in a research report released on Friday morning, TheStreetRatingsTable reports.

Separately, Zacks Investment Research downgraded shares of Red River Bancshares from a buy rating to a hold rating in a research report on Saturday, August 14th.

RRBI opened at $47.38 on Friday. Red River Bancshares has a twelve month low of $40.98 and a twelve month high of $65.07. The company has a 50-day moving average price of $50.76 and a 200 day moving average price of $53.39. The company has a market cap of $344.78 million, a PE ratio of 11.25 and a beta of 0.97.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings results on Wednesday, July 28th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. Red River Bancshares had a net margin of 29.84% and a return on equity of 10.81%. The firm had revenue of $23.65 million during the quarter, compared to the consensus estimate of $22.93 million. As a group, sell-side analysts expect that Red River Bancshares will post 4.2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 23rd. Investors of record on Monday, September 13th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, September 10th. This represents a $0.28 annualized dividend and a yield of 0.59%. Red River Bancshares’s dividend payout ratio is presently 7.31%.

In related news, Director Teddy Ray Price acquired 504 shares of the stock in a transaction that occurred on Wednesday, August 4th. The stock was purchased at an average price of $52.51 per share, with a total value of $26,465.04. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 21.59% of the company’s stock.

A number of large investors have recently made changes to their positions in RRBI. BlackRock Inc. grew its position in Red River Bancshares by 9.8% during the 1st quarter. BlackRock Inc. now owns 297,810 shares of the company’s stock worth $16,681,000 after purchasing an additional 26,578 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Red River Bancshares by 54.2% in the second quarter. The Manufacturers Life Insurance Company now owns 78,733 shares of the company’s stock valued at $3,977,000 after purchasing an additional 27,674 shares during the period. Geode Capital Management LLC lifted its stake in shares of Red River Bancshares by 2.6% in the second quarter. Geode Capital Management LLC now owns 76,771 shares of the company’s stock valued at $3,877,000 after purchasing an additional 1,963 shares during the period. EJF Capital LLC acquired a new stake in shares of Red River Bancshares in the second quarter valued at about $2,850,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Red River Bancshares by 39.7% in the first quarter. The Manufacturers Life Insurance Company now owns 51,059 shares of the company’s stock valued at $2,860,000 after purchasing an additional 14,501 shares during the period. Hedge funds and other institutional investors own 17.19% of the company’s stock.

About Red River Bancshares

Red River Bancshares, Inc is a bank holding company, which engages in the provision of banking products and services for commercial and retail customers through its subsidiary. It offers real estate and commercial loans, treasury management, retail banking networks, private banking, residential mortgage lending, and investment services.

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