Red River Bancshares (NASDAQ:RRBI) Announces Earnings Results

Key Points

• Red River Bancshares reported EPS of $1.81 vs. $1.69 expected, with revenue of $32.94M and strong profitability metrics (ROE 12.35%, net margin 25.18%).
• The company raised its quarterly dividend to $0.25 per share (annualized $1.00) from $0.15, implying a 1.1% yield and a 15.65% payout ratio.
• Shares slid about 2.8% to $90.73 after the release; the stock trades at a P/E of 14.6 with a market cap near $597M, while analysts' consensus is a "Hold" with an average target of $67.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) released its earnings results on Thursday. The company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.12, FiscalAI reports. Red River Bancshares had a return on equity of 12.35% and a net margin of 25.18%.The business had revenue of $32.94 million for the quarter, compared to analyst estimates of $32.98 million.

Red River Bancshares Trading Down 2.8%

Shares of Red River Bancshares stock traded down $2.59 during trading on Thursday, hitting $90.73. 90,342 shares of the stock traded hands, compared to its average volume of 55,082. The firm has a market cap of $597.00 million, a P/E ratio of 14.60 and a beta of 0.45. Red River Bancshares has a 52-week low of $51.98 and a 52-week high of $98.85. The stock's fifty day simple moving average is $90.97 and its 200 day simple moving average is $79.59.

Red River Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were paid a dividend of $0.25 per share. This is an increase from Red River Bancshares's previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, March 9th. Red River Bancshares's payout ratio is 15.65%.

Analyst Upgrades and Downgrades

RRBI has been the topic of a number of recent analyst reports. Raymond James Financial reiterated a "market perform" rating on shares of Red River Bancshares in a research note on Tuesday, April 7th. Zacks Research lowered Red River Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Red River Bancshares presently has an average rating of "Hold" and an average target price of $67.00.

Hedge Funds Weigh In On Red River Bancshares

Institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. increased its stake in shares of Red River Bancshares by 2.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company's stock valued at $670,000 after buying an additional 200 shares during the period. Rhumbline Advisers boosted its position in Red River Bancshares by 27.3% during the second quarter. Rhumbline Advisers now owns 9,132 shares of the company's stock valued at $536,000 after purchasing an additional 1,961 shares in the last quarter. Wells Fargo & Company MN boosted its position in Red River Bancshares by 53.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,546 shares of the company's stock valued at $396,000 after purchasing an additional 1,928 shares in the last quarter. NewEdge Advisors LLC boosted its position in Red River Bancshares by 5.8% during the third quarter. NewEdge Advisors LLC now owns 5,419 shares of the company's stock valued at $351,000 after purchasing an additional 296 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Red River Bancshares by 36.3% during the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company's stock valued at $346,000 after purchasing an additional 1,784 shares in the last quarter. Hedge funds and other institutional investors own 27.55% of the company's stock.

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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