Red River Bancshares (NASDAQ:RRBI) Sees Large Volume Increase – Should You Buy?

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) saw unusually-high trading volume on Tuesday . 89,956 shares were traded during trading, an increase of 28% from the previous session’s volume of 70,514 shares.The stock last traded at $98.2450 and had previously closed at $98.25.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RRBI shares. Weiss Ratings upgraded shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Stephens lowered shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target for the company. in a report on Tuesday, May 5th. Raymond James Financial started coverage on Red River Bancshares in a research report on Wednesday, July 1st. They set a “market perform” rating for the company. Finally, Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Red River Bancshares currently has a consensus rating of “Hold” and an average price target of $80.50.

Red River Bancshares Price Performance

The stock has a market cap of $635.96 million, a P/E ratio of 14.47 and a beta of 0.42. The firm’s 50 day moving average price is $92.47 and its 200-day moving average price is $89.00.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, April 30th. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.12. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%.The business had revenue of $32.94 million during the quarter, compared to analyst estimates of $33.03 million. On average, analysts expect that Red River Bancshares, Inc. will post 7.26 earnings per share for the current year.

Red River Bancshares Dividend Announcement

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

Institutional Investors Weigh In On Red River Bancshares

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Red River Bancshares by 345.1% in the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after acquiring an additional 222,401 shares during the period. Boston Partners bought a new stake in Red River Bancshares in the fourth quarter worth $4,117,000. First Eagle Investment Management LLC bought a new stake in shares of Red River Bancshares in the 4th quarter worth about $3,528,000. Arrowstreet Capital Limited Partnership raised its position in Red River Bancshares by 164.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock valued at $6,546,000 after purchasing an additional 45,014 shares during the period. Finally, Sei Investments Co. purchased a new stake in Red River Bancshares during the 1st quarter valued at $1,627,000. 27.55% of the stock is currently owned by institutional investors.

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.