Red River Bancshares (NASDAQ:RRBI) Hits New 1-Year High - Should You Buy?

Key Points

• Red River Bancshares shares hit a new 52-week high of $104.87 and last traded at $102.69, above both the 50-day and 200-day moving averages.
• Analysts remain generally cautious, with one Buy and three Hold ratings; the consensus rating is Hold with an average price target of $106.
• The company slightly exceeded quarterly earnings and revenue estimates, reporting $1.78 in EPS and $33.71 million in revenue, while declaring a quarterly dividend of $0.25, equivalent to a 1.0% annualized yield.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $104.87 and last traded at $102.69, with a volume of 60180 shares. The stock had previously closed at $103.48.

Analyst Upgrades and Downgrades

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

Red River Bancshares Price Performance

The company has a market cap of $676.11 million, a price-to-earnings ratio of 14.78 and a beta of 0.41. The company's 50-day simple moving average is $100.42 and its 200-day simple moving average is $94.32.

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, topping analysts' consensus estimates of $1.76 by $0.02. The business had revenue of $33.71 million for the quarter, compared to analysts' expectations of $33.66 million. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.47%. Equities analysts predict that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Red River Bancshares's dividend payout ratio (DPR) is currently 14.39%.

Hedge Funds Weigh In On Red River Bancshares

Institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Red River Bancshares during the second quarter valued at approximately $32,000. Legal & General Group Plc bought a new position in Red River Bancshares in the 2nd quarter worth approximately $46,000. Clearstead Advisors LLC grew its holdings in Red River Bancshares by 4,015.4% in the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company's stock worth $38,000 after buying an additional 522 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Red River Bancshares in the 1st quarter valued at approximately $189,000. Finally, First Trust Advisors LP acquired a new stake in Red River Bancshares in the 1st quarter valued at approximately $215,000. 27.55% of the stock is owned by institutional investors.

About Red River Bancshares

Red River Bancshares, Inc is the bank holding company for Red River Bank, a Louisiana-based community bank headquartered in Alexandria. Founded in 1999, the company provides banking services to businesses, professionals, individuals and public-sector customers through its network of banking locations and digital channels.

Red River Bank offers a range of commercial and personal financial products, including checking and savings accounts, certificates of deposit, commercial and industrial loans, commercial real estate financing, residential mortgage loans, consumer lending and small-business financing.

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