Red River Bancshares (NASDAQ:RRBI) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Red River Bancshares (NASDAQ:RRBI) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Red River Bancshares Stock Up 2.1%

Shares of RRBI opened at $92.32 on Tuesday. Red River Bancshares has a 12-month low of $46.33 and a 12-month high of $93.90. The stock has a market cap of $607.19 million, a P/E ratio of 14.45 and a beta of 0.48. The business’s fifty day moving average is $87.67 and its 200 day moving average is $75.50.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings data on Friday, January 30th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.10. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. The firm had revenue of $33.19 million during the quarter, compared to analysts’ expectations of $32.19 million. On average, analysts expect that Red River Bancshares will post 5.28 EPS for the current year.

Red River Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were paid a $0.25 dividend. The ex-dividend date was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. This is an increase from Red River Bancshares’s previous quarterly dividend of $0.15. Red River Bancshares’s dividend payout ratio (DPR) is presently 15.65%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in Red River Bancshares by 345.1% in the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after purchasing an additional 222,401 shares during the period. Polymer Capital Management US LLC purchased a new position in shares of Red River Bancshares during the 4th quarter valued at about $329,000. AQR Capital Management LLC lifted its position in Red River Bancshares by 52.4% in the 4th quarter. AQR Capital Management LLC now owns 34,381 shares of the company’s stock worth $2,456,000 after buying an additional 11,822 shares during the last quarter. Trexquant Investment LP lifted its position in Red River Bancshares by 28.2% in the 4th quarter. Trexquant Investment LP now owns 12,998 shares of the company’s stock worth $928,000 after buying an additional 2,859 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Red River Bancshares in the fourth quarter worth approximately $206,000. Hedge funds and other institutional investors own 27.55% of the company’s stock.

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.