Red River Bancshares (NASDAQ:RRBI) Trading Up 0% – What’s Next?

Red River Bancshares, Inc. (NASDAQ:RRBI)’s share price were up 0% on Monday . The company traded as high as $75.60 and last traded at $74.22. Approximately 69,623 shares were traded during mid-day trading, an increase of 111% from the average daily volume of 32,960 shares. The stock had previously closed at $74.21.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Red River Bancshares Stock Performance

The company has a market capitalization of $487.31 million, a P/E ratio of 12.16 and a beta of 0.51. The firm’s fifty day moving average is $67.98 and its 200 day moving average is $64.26.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.08. The business had revenue of $31.91 million during the quarter, compared to the consensus estimate of $31.28 million. Red River Bancshares had a net margin of 24.44% and a return on equity of 12.14%. On average, analysts forecast that Red River Bancshares, Inc. will post 5.28 EPS for the current year.

Red River Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Monday, December 8th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, December 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. Red River Bancshares’s payout ratio is presently 9.95%.

Institutional Trading of Red River Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in Red River Bancshares by 11.5% during the 2nd quarter. Acadian Asset Management LLC now owns 47,208 shares of the company’s stock valued at $2,769,000 after buying an additional 4,857 shares in the last quarter. Voya Investment Management LLC grew its stake in Red River Bancshares by 32.8% in the 1st quarter. Voya Investment Management LLC now owns 6,721 shares of the company’s stock worth $347,000 after acquiring an additional 1,659 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Red River Bancshares during the first quarter worth approximately $269,000. Nuveen LLC bought a new stake in shares of Red River Bancshares during the first quarter valued at approximately $666,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Red River Bancshares by 6.6% during the first quarter. Russell Investments Group Ltd. now owns 19,684 shares of the company’s stock valued at $1,017,000 after acquiring an additional 1,219 shares in the last quarter. Hedge funds and other institutional investors own 27.55% of the company’s stock.

About Red River Bancshares

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It offers commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit.