Red River Bancshares (NASDAQ:RRBI) Sees Large Volume Increase – Time to Buy?

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) saw unusually-high trading volume on Tuesday . Approximately 83,553 shares traded hands during mid-day trading, an increase of 36% from the previous session’s volume of 61,334 shares.The stock last traded at $91.6150 and had previously closed at $90.84.

Analysts Set New Price Targets

RRBI has been the subject of several research analyst reports. Raymond James Financial reiterated a “market perform” rating on shares of Red River Bancshares in a report on Tuesday, April 7th. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Stephens cut 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Red River Bancshares presently has an average rating of “Hold” and an average target price of $80.50.

Red River Bancshares Stock Up 0.2%

The company’s fifty day moving average is $91.81 and its 200 day moving average is $84.06. The firm has a market cap of $598.75 million, a price-to-earnings ratio of 13.62 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.12. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. The company had revenue of $32.94 million for the quarter, compared to analyst estimates of $33.03 million. On average, equities research analysts forecast that Red River Bancshares, Inc. will post 7.22 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, June 8th. Red River Bancshares’s dividend payout ratio (DPR) is presently 14.97%.

Institutional Investors Weigh In On Red River Bancshares

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised 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 buying an additional 222,401 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Red River Bancshares by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 240,722 shares of the company’s stock worth $15,604,000 after acquiring an additional 769 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Red River Bancshares by 12.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 125,314 shares of the company’s stock worth $11,333,000 after acquiring an additional 13,866 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Red River Bancshares by 2.5% during the 4th 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 last quarter. Finally, State Street Corp boosted its holdings in Red River Bancshares by 0.4% during the 4th quarter. State Street Corp now owns 99,742 shares of the company’s stock worth $7,125,000 after acquiring an additional 404 shares during the last quarter. 27.55% of the stock is currently owned by institutional investors and hedge funds.

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.