Red River Bancshares (NASDAQ:RRBI) Reaches New 1-Year High After Better-Than-Expected Earnings

Red River Bancshares, Inc. (NASDAQ:RRBI)’s stock price hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $82.64 and last traded at $81.57, with a volume of 21279 shares trading hands. The stock had previously closed at $78.31.

The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.10. The firm had revenue of $33.19 million for the quarter, compared to analysts’ expectations of $32.19 million. Red River Bancshares had a net margin of 24.44% and a return on equity of 12.14%.

Red River Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Monday, December 8th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, December 8th. Red River Bancshares’s dividend payout ratio is presently 9.95%.

Analysts Set New Price Targets

RRBI has been the topic of a number of research reports. Zacks Research downgraded shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Institutional Trading of Red River Bancshares

Several hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in Red River Bancshares by 11.5% during the second quarter. Acadian Asset Management LLC now owns 47,208 shares of the company’s stock worth $2,769,000 after buying an additional 4,857 shares during the period. Corton Capital Inc. purchased a new stake in Red River Bancshares during the second quarter worth approximately $245,000. Hillsdale Investment Management Inc. boosted its stake in Red River Bancshares by 615.7% in the second quarter. Hillsdale Investment Management Inc. now owns 36,500 shares of the company’s stock valued at $2,143,000 after acquiring an additional 31,400 shares in the last quarter. SummerHaven Investment Management LLC purchased a new position in shares of Red River Bancshares during the third quarter worth approximately $852,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of Red River Bancshares by 195.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 12,873 shares of the company’s stock valued at $756,000 after purchasing an additional 8,522 shares during the last quarter. Hedge funds and other institutional investors own 27.55% of the company’s stock.

Red River Bancshares Trading Up 6.1%

The company has a market cap of $546.53 million, a PE ratio of 13.77 and a beta of 0.52. The stock has a fifty day simple moving average of $73.47 and a two-hundred day simple moving average of $67.68.

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.