Red River Bancshares (NASDAQ:RRBI) Announces Quarterly Earnings Results

Key Points

• Red River Bancshares reported quarterly EPS of $1.78, beating analysts’ consensus estimate of $1.76. The company posted a 25.74% net margin and 12.46% return on equity.
• Shares traded down $2.06 to $99.62, near the company’s 52-week high of $103.49. The stock has a $655.53 million market capitalization and a price-to-earnings ratio of 14.93.
• The bank paid a quarterly dividend of $0.25 per share, equivalent to a 1.0% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $80.50, below the current share price.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.02, Zacks reports. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%.

Red River Bancshares Stock Performance

NASDAQ:RRBI traded down $2.06 during mid-day trading on Thursday, hitting $99.62. 122,009 shares of the stock were exchanged, compared to its average volume of 72,462. The firm's 50-day simple moving average is $93.58 and its 200 day simple moving average is $89.99. Red River Bancshares has a fifty-two week low of $58.67 and a fifty-two week high of $103.49. The stock has a market capitalization of $655.53 million, a price-to-earnings ratio of 14.93 and a beta of 0.42.

Red River Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 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 (DPR) is 14.97%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RRBI. Strs Ohio bought a new position in Red River Bancshares in the 1st quarter valued at $26,000. Tower Research Capital LLC TRC raised its position in Red River Bancshares by 534.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company's stock valued at $74,000 after purchasing an additional 1,064 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Red River Bancshares by 54.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock worth $105,000 after purchasing an additional 571 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Red River Bancshares during the 2nd quarter valued at about $117,000. Finally, Franklin Resources Inc. purchased a new position in shares of Red River Bancshares during the 3rd quarter valued at about $201,000. 27.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RRBI shares. Weiss Ratings upgraded shares of Red River Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, July 21st. Stephens lowered shares of Red River Bancshares from an "overweight" rating to an "equal weight" rating and set a $94.00 price target on the stock. in a research report on Tuesday, May 5th. Finally, Raymond James Financial initiated coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They set a "market perform" rating on the stock. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $80.50.

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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