Red River Bancshares, Inc. Plans Quarterly Dividend of $0.25 (NASDAQ:RRBI)

Key Points

• Red River Bancshares declared a quarterly dividend of $0.25 per share, payable September 17 to shareholders of record on September 8. The $1.00 annualized dividend implies a 1.0% yield and is well covered by earnings.
• The company reported quarterly EPS of $1.78, slightly exceeding the $1.76 analyst consensus, while revenue of $33.71 million also topped estimates.
• Analyst sentiment remains cautious: RRBI carries an overall “Hold” rating, with three Holds and one Buy, and a consensus price target of $106 versus a $101.52 share price.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) announced a quarterly dividend on Thursday, August 27th. Shareholders of record on Tuesday, September 8th will be given a dividend of 0.25 per share on Thursday, September 17th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 8th.

Red River Bancshares has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 3 years. Red River Bancshares has a payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Red River Bancshares to earn $7.63 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.1%.

Red River Bancshares Trading Up 0.5%

Shares of NASDAQ:RRBI opened at $101.52 on Friday. The company has a market capitalization of $668.00 million, a PE ratio of 14.61 and a beta of 0.41. Red River Bancshares has a twelve month low of $61.60 and a twelve month high of $104.35. The firm has a 50 day simple moving average of $97.98 and a 200-day simple moving average of $93.22.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last posted 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 26.25% and a return on equity of 12.47%. The firm had revenue of $33.71 million for the quarter, compared to the consensus estimate of $33.66 million. As a group, equities research analysts predict that Red River Bancshares will post 7.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RRBI shares. Weiss Ratings raised Red River Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, August 19th. Wall Street Zen raised Red River Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Stephens boosted their price objective on Red River Bancshares from $101.00 to $106.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Finally, Raymond James Financial started coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They set a "market perform" rating on the stock. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $106.00.

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.

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