Shares of Red River Bancshares, Inc. (NASDAQ:RRBI – Get Free Report) saw an uptick in trading volume on Wednesday . 59,767 shares changed hands during trading, a decline of 14% from the previous session’s volume of 69,234 shares.The stock last traded at $97.1140 and had previously closed at $96.20.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Weiss Ratings cut shares of Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Zacks Research lowered shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. 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 research note on Tuesday, May 5th. Finally, Raymond James Financial started coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Red River Bancshares currently has an average rating of “Hold” and an average target price of $80.50.
View Our Latest Stock Analysis on Red River Bancshares
Red River Bancshares Price Performance
Red River Bancshares (NASDAQ:RRBI – Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $1.81 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 the consensus estimate of $33.03 million. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%. Research analysts expect that Red River Bancshares, Inc. will post 7.26 earnings per share for the current year.
Red River Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were paid a $0.25 dividend. The ex-dividend date was Monday, June 8th. This represents a $1.00 annualized dividend and a yield of 1.0%. Red River Bancshares’s payout ratio is 14.97%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in RRBI. Empowered Funds LLC acquired a new stake in shares of Red River Bancshares during the first quarter worth $226,000. Bank of America Corp DE increased its position in Red River Bancshares by 70.2% during the first quarter. Bank of America Corp DE now owns 13,794 shares of the company’s stock worth $1,248,000 after acquiring an additional 5,688 shares during the period. Quantinno Capital Management LP increased its position in Red River Bancshares by 13.1% during the first quarter. Quantinno Capital Management LP now owns 6,008 shares of the company’s stock worth $543,000 after acquiring an additional 696 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Red River Bancshares by 164.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock worth $6,546,000 after purchasing an additional 45,014 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in Red River Bancshares in the 1st quarter worth about $1,627,000. Institutional investors own 27.55% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Red River Bancshares
- Plot Twist: 12 States Could Stall the Paramount-Warner Bros. Discovery Mega-Merger
- Alphabet’s AI Spending Question Looms Over Q2 Earnings
- 3 Small-Cap Stocks Trading Under $10 With Room to Run
- CleanSpark Inks a $6.6B AI Lease to Become a Digital Landlord
Receive News & Ratings for Red River Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red River Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.
