Red River Bancshares (NASDAQ:RRBI) Reaches New 12-Month High - What's Next?

Key Points

• Red River Bancshares shares reached a new 52-week high of $104.63 and last traded near $103.74, above both their 50-day and 200-day moving averages.
• Analyst sentiment remains cautious, with one Buy rating and three Holds; the consensus rating is Hold with a $106 price target.
• The bank modestly beat quarterly expectations, reporting $1.78 in EPS and $33.71 million in revenue, while announcing a $0.25 quarterly dividend, equivalent to a 1.0% annualized yield.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $104.63 and last traded at $103.7410, with a volume of 26762 shares changing hands. The stock had previously closed at $102.81.

Analyst Upgrades and Downgrades

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

Red River Bancshares Price Performance

The stock has a 50 day moving average price of $98.86 and a 200-day moving average price of $93.53. The stock has a market capitalization of $685.27 million, a price-to-earnings ratio of 14.98 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.76 by $0.02. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%.The firm had revenue of $33.71 million during the quarter, compared to analysts' expectations of $33.66 million. As a group, research analysts forecast that Red River Bancshares, Inc. will post 7.26 earnings per share for the current year.

Red River Bancshares Dividend Announcement

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

Hedge Funds Weigh In On Red River Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Red River Bancshares during the second quarter worth about $35,053,000. Wellington Management Group LLP boosted its holdings in shares of Red River Bancshares by 345.1% during the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company's stock worth $20,489,000 after purchasing an additional 222,401 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Red River Bancshares in the second quarter valued at approximately $12,079,000. Boston Partners acquired a new stake in shares of Red River Bancshares in the fourth quarter valued at approximately $4,117,000. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Red River Bancshares in the fourth quarter valued at approximately $3,528,000. 27.55% of the stock is owned by hedge funds and other institutional investors.

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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