Red River Bancshares (NASDAQ:RRBI) Hits New 52-Week High - Should You Buy?

Key Points

• Red River Bancshares reached a new 52-week high, trading as high as $109.84. Analysts’ consensus rating is “Moderate Buy,” with a $115 average price target.
• The bank beat quarterly earnings estimates, reporting EPS of $1.90 versus $1.83 expected, and revenue of $34.31 million versus $34.27 million expected.
• The company pays a quarterly dividend of $0.25, equivalent to $1.00 annually and a yield of about 0.9% at the reported share price.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) shares hit a new 52-week high on Thursday. The stock traded as high as $109.84 and last traded at $108.60, with a volume of 3,009 shares. The stock had previously closed at $107.68.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RRBI. Stephens restated an "equal weight" rating and issued a $115.00 price target on shares of Red River Bancshares in a research report on Monday. Weiss Ratings raised Red River Bancshares from a "buy (b+)" rating to a "buy (a)" rating in a research report on Thursday, October 8th. Finally, Wall Street Zen upgraded Red River Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.00.

Red River Bancshares Stock Performance

The company has a market cap of $701.49 million, a PE ratio of 14.73 and a beta of 0.41. The stock's 50-day simple moving average is $101.97 and its 200 day simple moving average is $94.53.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.07. The business had revenue of $34.31 million for the quarter, compared to analyst estimates of $34.27 million. Red River Bancshares had a net margin of 26.86% and a return on equity of 12.75%. On average, sell-side analysts predict that Red River Bancshares, Inc. will post 7.34 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 8th. Red River Bancshares's payout ratio is currently 13.85%.

Hedge Funds Weigh In On Red River Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Red River Bancshares in the 3rd quarter valued at approximately $211,000. Tidal Investments LLC acquired a new position in Red River Bancshares during the second quarter worth $395,000. Integrated Wealth Concepts LLC purchased a new position in Red River Bancshares in the second quarter worth $32,000. Bank of America Corp DE purchased a new position in Red River Bancshares in the second quarter worth $1,829,000. Finally, Canada Pension Plan Investment Board purchased a new position in Red River Bancshares in the second quarter worth $557,000. Institutional investors and hedge funds own 27.55% of the company's stock.

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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