Red River Bancshares (NASDAQ:RRBI) Sees Unusually-High Trading Volume – What’s Next?

Red River Bancshares, Inc. (NASDAQ:RRBI) saw unusually-strong trading volume on Wednesday . Approximately 47,869 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 47,032 shares.The stock last traded at $87.2390 and had previously closed at $88.76.

Analyst Ratings Changes

Several analysts recently weighed in on RRBI shares. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. Zacks Research upgraded shares of Red River Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, Red River Bancshares has an average rating of “Buy” and an average price target of $67.00.

Red River Bancshares Trading Up 2.6%

The stock has a 50-day moving average price of $84.88 and a two-hundred day moving average price of $73.85. The stock has a market cap of $585.23 million, a price-to-earnings ratio of 13.92 and a beta of 0.48.

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

Red River Bancshares Increases Dividend

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

Hedge Funds Weigh In On Red River Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of RRBI. Wellington Management Group LLP raised its position in Red River Bancshares by 345.1% during the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after buying an additional 222,401 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Red River Bancshares by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 240,722 shares of the company’s stock valued at $15,604,000 after acquiring an additional 769 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Red River Bancshares by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 113,509 shares of the company’s stock worth $8,110,000 after acquiring an additional 2,722 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Red River Bancshares by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 111,448 shares of the company’s stock worth $7,961,000 after purchasing an additional 8,954 shares during the last quarter. Finally, State Street Corp lifted its position in Red River Bancshares by 0.4% during the fourth quarter. State Street Corp now owns 99,742 shares of the company’s stock valued at $7,125,000 after purchasing an additional 404 shares during the period. Institutional investors and hedge funds 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.