Red River Bancshares (NASDAQ:RRBI) Sees Strong Trading Volume on Strong Earnings

Shares of Red River Bancshares, Inc. (NASDAQ:RRBIGet Free Report) saw unusually-strong trading volume on Thursday after the company announced better than expected quarterly earnings. 104,035 shares changed hands during trading, an increase of 45% from the previous session’s volume of 71,770 shares.The stock last traded at $99.63 and had previously closed at $101.68.

The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%.

Red River Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, June 8th. Red River Bancshares’s dividend payout ratio (DPR) is 14.97%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RRBI. Weiss Ratings upgraded shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 21st. Raymond James Financial started coverage on Red River Bancshares in a research report on Wednesday, July 1st. They set a “market perform” rating on the stock. Finally, Stephens cut shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target on the stock. in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $80.50.

View Our Latest Report on Red River Bancshares

Institutional Trading of Red River Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Steel Grove Capital Advisors LLC acquired a new stake in Red River Bancshares in the fourth quarter valued at $391,000. First Eagle Investment Management LLC purchased a new stake in Red River Bancshares during the 4th quarter worth $3,528,000. Legato Capital Management LLC bought a new position in shares of Red River Bancshares during the fourth quarter worth about $458,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Red River Bancshares by 2.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock worth $670,000 after purchasing an additional 200 shares during the period. Finally, Rhumbline Advisers grew its stake in Red River Bancshares by 27.3% during the 2nd quarter. Rhumbline Advisers now owns 9,132 shares of the company’s stock worth $536,000 after buying an additional 1,961 shares during the last quarter. Hedge funds and other institutional investors own 27.55% of the company’s stock.

Red River Bancshares Stock Down 2.0%

The firm has a market capitalization of $655.83 million, a P/E ratio of 14.91 and a beta of 0.42. The business’s 50 day moving average is $93.58 and its two-hundred day moving average is $89.99.

About Red River Bancshares

(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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