Stephens Issues Positive Forecast for Red River Bancshares (NASDAQ:RRBI) Stock Price

Red River Bancshares (NASDAQ:RRBI) had its target price raised by investment analysts at Stephens from $101.00 to $106.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Stephens’ price objective would indicate a potential upside of 5.02% from the stock’s current price.

RRBI has been the subject of a number of other research reports. 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. Weiss Ratings raised Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $86.50.

Red River Bancshares Price Performance

Shares of RRBI traded up $2.42 on Friday, reaching $100.93. The company’s stock had a trading volume of 64,811 shares, compared to its average volume of 72,627. The stock’s 50 day simple moving average is $93.73 and its two-hundred day simple moving average is $90.18. The stock has a market capitalization of $664.62 million, a P/E ratio of 15.15 and a beta of 0.42. Red River Bancshares has a 12-month low of $58.67 and a 12-month high of $103.49.

Red River Bancshares (NASDAQ:RRBI) last announced its earnings results on Thursday, July 30th. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. The business had revenue of $33.70 million during the quarter, compared to analysts’ expectations of $33.66 million. Analysts expect that Red River Bancshares will post 7.26 earnings per share for the current year.

Hedge Funds Weigh In On Red River Bancshares

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Red River Bancshares by 345.1% in the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after purchasing an additional 222,401 shares during the period. Boston Partners bought a new stake in shares of Red River Bancshares during the 4th quarter valued at $4,117,000. First Eagle Investment Management LLC purchased a new position in shares of Red River Bancshares during the 4th quarter valued at $3,528,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Red River Bancshares by 164.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock valued at $6,546,000 after buying an additional 45,014 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Red River Bancshares in the 1st quarter worth $1,627,000. Hedge funds and other institutional investors 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.