Red River Bancshares (NASDAQ:RRBI) Coverage Initiated at Raymond James

Equities research analysts at Raymond James began coverage on shares of Red River Bancshares (NASDAQ:RRBI - Get Free Report) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $57.00 price target on the stock. Raymond James' price objective would suggest a potential upside of 18.16% from the company's previous close.

Red River Bancshares Stock Down 0.0 %

RRBI stock traded down $0.02 during trading on Tuesday, hitting $48.24. 3,103 shares of the company's stock traded hands, compared to its average volume of 9,802. Red River Bancshares has a 1 year low of $42.78 and a 1 year high of $62.13. The business has a fifty day simple moving average of $53.79 and a two-hundred day simple moving average of $54.36. The firm has a market capitalization of $326.97 million, a P/E ratio of 9.73 and a beta of 0.47.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.14. Red River Bancshares had a net margin of 21.71% and a return on equity of 11.04%. On average, equities research analysts predict that Red River Bancshares will post 5.28 EPS for the current fiscal year.

Institutional Trading of Red River Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRBI. Barclays PLC boosted its position in Red River Bancshares by 268.4% in the third quarter. Barclays PLC now owns 6,012 shares of the company's stock valued at $313,000 after buying an additional 4,380 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Red River Bancshares by 133.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,763 shares of the company's stock valued at $456,000 after acquiring an additional 5,007 shares during the period. FMR LLC increased its stake in shares of Red River Bancshares by 140.5% during the third quarter. FMR LLC now owns 2,128 shares of the company's stock worth $111,000 after purchasing an additional 1,243 shares in the last quarter. State Street Corp increased its stake in Red River Bancshares by 1.1% during the 3rd quarter. State Street Corp now owns 95,219 shares of the company's stock worth $4,951,000 after buying an additional 993 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Red River Bancshares in the 3rd quarter valued at $220,000. Institutional investors and hedge funds own 27.55% of the company's stock.

Red River Bancshares Company Profile

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It offers commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit.