Red River Bancshares (NASDAQ:RRBI) Hits New 1-Year High - What's Next?

Key Points

• Red River Bancshares hit a new 52-week high, trading as high as $95.32, even though analysts' consensus is a Hold with an average target price of $67.
• The company beat Q4 estimates with $1.73 EPS (vs. $1.63 expected), reported a 12.35% ROE and 25.18% net margin, and raised its quarterly dividend from $0.15 to $0.25 (annualized $1.00, ~1.0% yield).
• About 27.55% of the stock is held by institutional investors, and several hedge funds recently increased or initiated positions, indicating rising institutional interest.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $95.32 and last traded at $95.20, with a volume of 37970 shares traded. The stock had previously closed at $93.81.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research lowered Red River Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Raymond James Financial restated a "market perform" rating on shares of Red River Bancshares in a research note on Tuesday, April 7th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Red River Bancshares has an average rating of "Hold" and an average target price of $67.00.

Red River Bancshares Stock Performance

The stock has a market capitalization of $626.44 million, a PE ratio of 14.96 and a beta of 0.45. The business has a 50 day moving average of $89.78 and a two-hundred day moving average of $77.07.

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

Red River Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors 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. The ex-dividend date was Monday, March 9th. 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 currently 15.65%.

Institutional Investors Weigh In On Red River Bancshares

Hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in shares of Red River Bancshares during the 1st quarter worth $26,000. Clearstead Advisors LLC raised its stake in Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company's stock valued at $38,000 after buying an additional 522 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Red River Bancshares by 258.0% in the fourth quarter. State of Alaska Department of Revenue now owns 945 shares of the company's stock valued at $66,000 after buying an additional 681 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Red River Bancshares by 534.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company's stock valued at $74,000 after buying an additional 1,064 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Red River Bancshares by 54.6% in the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock valued at $105,000 after buying 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.

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