Red River Bancshares’ (RRBI) Market Perform Rating Reiterated at Raymond James Financial

Red River Bancshares (NASDAQ:RRBI)‘s stock had its “market perform” rating reissued by analysts at Raymond James Financial in a research report issued to clients and investors on Wednesday,Benzinga reports.

Several other research firms have also commented on RRBI. Zacks Research lowered shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings downgraded shares of Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Finally, Stephens downgraded shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 target price on the stock. in a research note on Tuesday, May 5th. One research 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 currently has a consensus rating of “Hold” and a consensus price target of $80.50.

Red River Bancshares Stock Performance

Shares of RRBI opened at $91.28 on Wednesday. The stock has a fifty day moving average of $91.07 and a two-hundred day moving average of $86.39. The company has a market capitalization of $600.62 million, a PE ratio of 13.66 and a beta of 0.41. Red River Bancshares has a fifty-two week low of $58.12 and a fifty-two week high of $98.85.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.81 earnings per share 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 company had revenue of $32.94 million for the quarter, compared to analyst estimates of $33.03 million. As a group, equities research analysts forecast that Red River Bancshares will post 7.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red River Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. boosted its holdings in Red River Bancshares by 2.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock worth $670,000 after acquiring an additional 200 shares during the period. NewEdge Advisors LLC raised its stake 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 purchasing an additional 296 shares during the period. State Street Corp raised its stake in shares of 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. Strs Ohio purchased a new stake in shares of Red River Bancshares during the first quarter valued at approximately $26,000. Finally, Clearstead Advisors LLC boosted its stake in shares of Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after purchasing an additional 522 shares during the period. 27.55% of the stock is owned by institutional investors and hedge funds.

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.