Red River Bancshares (NASDAQ:RRBI) Announces Quarterly Earnings Results

Red River Bancshares (NASDAQ:RRBI) released its quarterly earnings data on Thursday. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.02, Zacks reports. The firm had revenue of $33.70 million during the quarter, compared to analysts’ expectations of $33.66 million. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%.

Red River Bancshares Trading Up 2.8%

Shares of NASDAQ:RRBI traded up $2.71 during midday trading on Friday, hitting $101.22. 42,207 shares of the stock were exchanged, compared to its average volume of 72,395. Red River Bancshares has a twelve month low of $58.67 and a twelve month high of $103.49. The company has a 50 day moving average price of $93.73 and a 200-day moving average price of $90.18. The stock has a market cap of $666.55 million, a P/E ratio of 15.15 and a beta of 0.42.

Red River Bancshares Announces Dividend

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

Hedge Funds Weigh In On Red River Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in shares of Red River Bancshares in the first quarter valued at about $26,000. Tower Research Capital LLC TRC increased its stake in shares of Red River Bancshares by 534.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock worth $74,000 after purchasing an additional 1,064 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Red River Bancshares by 54.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after purchasing an additional 571 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Red River Bancshares during the 2nd quarter worth approximately $117,000. Finally, Franklin Resources Inc. acquired a new position in shares of Red River Bancshares during the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 27.55% of the company’s stock.

Analyst Ratings Changes

RRBI has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 21st. Raymond James Financial assumed coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They issued a “market perform” rating for the company. Finally, Stephens downgraded 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 research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.50.

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.