Red River Bancshares (NASDAQ:RRBI) Shares Down 0.4% – Here’s What Happened

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI – Get Free Report) fell 0.4% on Tuesday . The stock traded as low as $90.66 and last traded at $91.28. 48,628 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 107,294 shares. The stock had previously closed at $91.67.

Analyst Ratings Changes

Several research analysts have issued reports on RRBI shares. Weiss Ratings reiterated a “buy (b+)” rating on shares of Red River Bancshares in a report on Monday, June 15th. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Raymond James Financial reiterated a “market perform” rating on shares of Red River Bancshares in a research note on Tuesday, April 7th. Finally, Stephens lowered shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price objective on the stock. in a report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $80.50.

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Red River Bancshares Stock Performance

The business has a 50 day moving average of $91.07 and a two-hundred day moving average of $86.39. The stock has a market capitalization of $600.62 million, a PE ratio of 13.66 and a beta of 0.41.

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

Red River Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were issued 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 was Monday, June 8th. Red River Bancshares’s dividend payout ratio (DPR) is currently 14.97%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Red River Bancshares by 345.1% during the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after acquiring an additional 222,401 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Red River Bancshares by 0.3% during the third quarter. Vanguard Group Inc. now owns 240,722 shares of the company’s stock worth $15,604,000 after purchasing an additional 769 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Red River Bancshares by 12.4% during the first quarter. Dimensional Fund Advisors LP now owns 125,314 shares of the company’s stock worth $11,333,000 after purchasing an additional 13,866 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Red River Bancshares by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 113,509 shares of the company’s stock valued at $8,110,000 after purchasing an additional 2,722 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Red River Bancshares by 0.4% in the 4th quarter. State Street Corp now owns 99,742 shares of the company’s stock worth $7,125,000 after purchasing an additional 404 shares in the last quarter. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Company Profile

(Get Free Report)

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.

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