Red River Bancshares (NASDAQ:RRBI) Lowered to Equal Weight Rating by Stephens

Key Points

• Stephens downgraded Red River Bancshares from "overweight" to "equal weight" and set a $94 price target, implying roughly a 6.2% upside from the current price.
• Q1 results: RRBI reported $1.81 EPS versus $1.69 expected, with a 12.66% return on equity and a 25.74% net margin, while revenue of $32.94 million slightly missed estimates.
• Analyst consensus is "Hold" with an average price target of $80.50 (below the current ~$88.52 share price), and shares were trading down about 3.1% on the news.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) was downgraded by research analysts at Stephens from an "overweight" rating to an "equal weight" rating in a report released on Tuesday. They presently have a $94.00 target price on the stock. Stephens' price objective points to a potential upside of 6.19% from the stock's current price.

Several other equities research analysts have also commented on RRBI. Zacks Research lowered shares of Red River Bancshares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Weiss Ratings restated a "buy (b)" rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Finally, Raymond James Financial restated a "market perform" rating on shares of Red River Bancshares in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Red River Bancshares presently has an average rating of "Hold" and a consensus price target of $80.50.

Red River Bancshares Trading Down 3.1%

Shares of RRBI stock opened at $88.52 on Tuesday. The stock has a 50 day moving average of $90.97 and a 200 day moving average of $79.80. The stock has a market cap of $582.46 million, a P/E ratio of 13.25 and a beta of 0.42. Red River Bancshares has a twelve month low of $53.55 and a twelve month high of $98.85.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.12. Red River Bancshares had a return on equity of 12.66% and a net margin of 25.74%.The business had revenue of $32.94 million during the quarter, compared to the consensus estimate of $33.03 million. On average, research analysts predict that Red River Bancshares will post 7.13 earnings per share for the current fiscal year.

Institutional Trading of Red River Bancshares

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Red River Bancshares by 345.1% during the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company's stock worth $20,489,000 after purchasing an additional 222,401 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Red River Bancshares by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 240,722 shares of the company's stock valued at $15,604,000 after purchasing an additional 769 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Red River Bancshares by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 113,509 shares of the company's stock valued at $8,110,000 after purchasing an additional 2,722 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Red River Bancshares by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 111,448 shares of the company's stock valued at $7,961,000 after purchasing an additional 8,954 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Red River Bancshares by 0.4% in the 4th quarter. State Street Corp now owns 99,742 shares of the company's stock valued at $7,125,000 after purchasing an additional 404 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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