Red River Bancshares (NASDAQ:RRBI) Hits New 12-Month High After Earnings Beat

Key Points

• Red River Bancshares shares reached a new 52-week high of $104.95 after the company reported quarterly earnings of $1.90 per share, beating analyst expectations of $1.83.
• The company paid a quarterly dividend of $0.25 per share, equivalent to an annualized dividend of $1.00 and a 1.0% yield; its payout ratio is 14.39%.
• Analyst sentiment is moderately positive, with a consensus rating of “Moderate Buy” and a $106 average price target. Institutional investors own 27.55% of the company.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report)'s stock price hit a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $104.95 and last traded at $103.87, with a volume of 23,391 shares. The stock had previously closed at $102.10.

The company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.07. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.47%.

Red River Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, September 8th. Red River Bancshares's dividend payout ratio is presently 14.39%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Red River Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Stephens boosted their price objective on Red River Bancshares from $101.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded Red River Bancshares from a "buy (b+)" rating to a "buy (a)" rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new stake in Red River Bancshares in the second quarter worth $395,000. Integrated Wealth Concepts LLC acquired a new position in shares of Red River Bancshares during the second quarter valued at $32,000. Bank of America Corp DE bought a new position in shares of Red River Bancshares during the second quarter worth about $1,829,000. Canada Pension Plan Investment Board bought a new position in shares of Red River Bancshares during the second quarter worth about $557,000. Finally, Legal & General Group Plc acquired a new stake in shares of Red River Bancshares in the 2nd quarter worth about $46,000. 27.55% of the stock is currently owned by institutional investors.

Red River Bancshares Stock Performance

The stock's fifty day moving average is $101.55 and its two-hundred day moving average is $93.88. The firm has a market cap of $684.66 million, a price-to-earnings ratio of 14.94 and a beta of 0.42.

About Red River Bancshares

Red River Bancshares, Inc is the bank holding company for Red River Bank, a Louisiana-based financial institution headquartered in Alexandria. Founded in 1999, Red River Bank provides banking services to businesses, professionals, individuals and governmental entities.

Red River Bank offers commercial and consumer deposit accounts, commercial and residential real estate lending, construction and development loans, commercial and industrial financing, consumer loans and mortgage-related products.

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