Red River Bancshares (NASDAQ:RRBI) Cut to Hold at Zacks Research

Key Points

• Red River Bancshares was downgraded by Zacks Research from a "strong-buy" to a "hold" rating, indicating a more cautious outlook on the stock.
• Despite the downgrade, analysts from Weiss Ratings and Raymond James maintain positive views, with Weiss reiterating a "buy" rating and Raymond James setting an increased target price of $67.00.
• The company reported strong earnings with an EPS of $1.51 for the last quarter, exceeding expectations and reflecting a healthy net margin of 23.62%.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Red River Bancshares in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an "outperform" rating and set a $67.00 target price (up previously from $62.00) on shares of Red River Bancshares in a research note on Friday, August 1st. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Red River Bancshares currently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Red River Bancshares Trading Down 0.6%

NASDAQ RRBI opened at $64.25 on Monday. Red River Bancshares has a 1 year low of $46.33 and a 1 year high of $68.20. The company has a market cap of $429.00 million, a PE ratio of 11.53 and a beta of 0.53. The stock's 50-day moving average price is $64.83 and its two-hundred day moving average price is $59.70.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.43 by $0.08. Red River Bancshares had a net margin of 23.62% and a return on equity of 11.76%. The company had revenue of $30.09 million during the quarter, compared to analysts' expectations of $30.04 million. Research analysts forecast 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 have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in Red River Bancshares in the first quarter worth $26,000. Bank of New York Mellon Corp raised its stake in shares of Red River Bancshares by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 21,839 shares of the company's stock valued at $1,128,000 after acquiring an additional 518 shares in the last quarter. Tower Research Capital LLC TRC boosted 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 worth $74,000 after purchasing an additional 1,064 shares during the period. CWM LLC grew its holdings in Red River Bancshares by 138.4% during the third quarter. CWM LLC now owns 2,010 shares of the company's stock valued at $130,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Red River Bancshares by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 19,684 shares of the company's stock valued at $1,017,000 after purchasing an additional 1,219 shares during the period. 27.55% of the stock is currently owned by institutional investors and hedge funds.

About Red River Bancshares

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.

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