Red River Bancshares (NASDAQ:RRBI) Given "Market Perform" Rating at Raymond James Financial

Key Points

• Raymond James reaffirmed a Market Perform rating on Red River Bancshares, and the stock's consensus is a Hold with a consensus target price of $67, well below the recent trading level (~$92).
• Red River beat quarterly estimates with EPS of $1.73 vs. $1.63 expected and revenue of $33.19M, delivering a 12.35% ROE and 25.18% net margin, while analysts forecast FY EPS of 5.28.
• Shares are trading near their 52‑week high ($93.90) with a market cap of $605M and a P/E of 14.39, and technicals show a 50‑day average of $88.49 versus a 200‑day average of $76.11.

Red River Bancshares (NASDAQ:RRBI - Get Free Report)'s stock had its "market perform" rating reaffirmed by research analysts at Raymond James Financial in a report released on Tuesday,Benzinga reports.

A number of other research firms have also weighed in on RRBI. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Zacks Research lowered Red River Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $67.00.

Red River Bancshares Stock Performance

Shares of NASDAQ:RRBI opened at $91.96 on Tuesday. Red River Bancshares has a 52-week low of $46.33 and a 52-week high of $93.90. The firm has a market capitalization of $605.10 million, a P/E ratio of 14.39 and a beta of 0.45. The stock has a 50 day moving average price of $88.49 and a 200-day moving average price of $76.11.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its earnings results on Friday, January 30th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.10. Red River Bancshares had a return on equity of 12.35% and a net margin of 25.18%.The firm had revenue of $33.19 million during the quarter, compared to analyst estimates of $32.19 million. On average, equities analysts forecast that Red River Bancshares will post 5.28 EPS for the current fiscal year.

Institutional Trading of Red River Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in Red River Bancshares during the 1st quarter valued at $26,000. Clearstead Advisors LLC boosted its stake in Red River Bancshares by 4,015.4% during the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company's stock valued at $38,000 after purchasing an additional 522 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Red River Bancshares by 258.0% during the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company's stock valued at $66,000 after purchasing an additional 681 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Red River Bancshares by 534.7% during the 2nd 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 during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Red River Bancshares by 54.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock valued at $105,000 after purchasing an additional 571 shares during the last quarter. 27.55% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.