Red River Bancshares (NASDAQ:RRBI) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Red River Bancshares (NASDAQ:RRBI) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other research analysts have also commented on RRBI. Stephens boosted their price target on Red River Bancshares from $101.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday. Weiss Ratings upgraded Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, July 21st. Finally, Raymond James Financial began coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They set a “market perform” rating for the company. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $106.00.

Red River Bancshares Stock Up 1.2%

Shares of RRBI stock opened at $101.77 on Friday. The firm has a market cap of $669.65 million, a price-to-earnings ratio of 14.64 and a beta of 0.41. The company’s 50 day moving average is $94.15 and its 200 day moving average is $90.58. Red River Bancshares has a 52-week low of $58.72 and a 52-week high of $103.49.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.02. The company had revenue of $33.70 million during the quarter, compared to analyst estimates of $33.66 million. Red River Bancshares had a return on equity of 12.65% and a net margin of 26.25%. Analysts anticipate that Red River Bancshares will post 7.26 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were issued 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 was Monday, June 8th. Red River Bancshares’s dividend payout ratio is currently 14.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRBI. Jacobs Levy Equity Management Inc. increased its stake in Red River Bancshares by 2.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock valued at $670,000 after purchasing an additional 200 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Red River Bancshares by 5.8% during the third quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock valued at $351,000 after buying an additional 296 shares during the last quarter. State Street Corp increased its position in shares of Red River Bancshares by 0.4% in the 4th quarter. State Street Corp now owns 99,742 shares of the company’s stock valued at $7,125,000 after acquiring an additional 404 shares during the period. Strs Ohio purchased a new position in Red River Bancshares in the 1st quarter worth $26,000. Finally, Clearstead Advisors LLC lifted its position in Red River Bancshares by 4,015.4% during the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock worth $38,000 after acquiring an additional 522 shares during the period. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

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.