Red River Bancshares (NASDAQ:RRBI) Hits New 52-Week High - Here's What Happened

Key Points

• 52-week high: Red River Bancshares (NASDAQ:RRBI) traded as high as $98.85 on Monday and last traded around $96.70 with about 73,042 shares changing hands.
• Analysts are mixed — MarketBeat shows an average rating of Hold with an average target of $67.00 (one Buy, two Holds), while firms like Weiss reissued a Buy and Zacks cut its rating to Hold.
• Fundamentals: RRBI beat quarterly estimates with $1.73 EPS vs. $1.63 expected and $33.19M revenue, and raised its quarterly dividend to $0.25 (annualized $1.00, ~1.0% yield) with a 15.65% payout ratio.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $98.85 and last traded at $96.6990, with a volume of 73042 shares changing hands. The stock had previously closed at $96.53.

Wall Street Analysts Forecast Growth

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

Red River Bancshares Stock Performance

The firm has a market cap of $636.82 million, a price-to-earnings ratio of 15.15 and a beta of 0.45. The stock's fifty day moving average is $90.18 and its two-hundred day moving average is $77.92.

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

Red River Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 9th. This is a positive change from Red River Bancshares's previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Red River Bancshares's dividend payout ratio (DPR) is currently 15.65%.

Hedge Funds Weigh In On Red River Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of RRBI. Strs Ohio acquired a new stake in shares of Red River Bancshares in the 1st quarter worth approximately $26,000. Clearstead Advisors LLC lifted its position in Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company's stock worth $38,000 after purchasing an additional 522 shares during the period. State of Alaska Department of Revenue lifted its position 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 worth $66,000 after purchasing an additional 681 shares during the period. Tower Research Capital LLC TRC increased its position in shares of 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 period. Finally, BNP Paribas Financial Markets lifted its holdings in Red River Bancshares by 54.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock valued at $105,000 after acquiring an additional 571 shares during the last quarter. Institutional investors own 27.55% of the company's stock.

About Red River Bancshares

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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