Red River Bancshares (NASDAQ:RRBI) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Red River Bancshares from “sell” to “hold.” Other analysts generally agree, giving the stock an average “Hold” rating and a consensus price target of $106.
• RRBI opened at $100.11, near its 52-week high of $103.49, with a $658.72 million market capitalization and a 14.40 price-to-earnings ratio.
• The company slightly exceeded quarterly expectations, reporting $1.78 in EPS versus the $1.76 estimate and $33.73 million in revenue versus the $33.66 million forecast.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

RRBI has been the subject of several other reports. Weiss Ratings downgraded shares of Red River Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday. Stephens upped their target price on Red River Bancshares from $101.00 to $106.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Finally, Raymond James Financial started coverage on Red River Bancshares in a research report on Wednesday, July 1st. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $106.00.

Red River Bancshares Stock Performance

Red River Bancshares stock opened at $100.11 on Friday. The stock has a market cap of $658.72 million, a PE ratio of 14.40 and a beta of 0.41. The stock has a 50-day moving average of $94.89 and a two-hundred day moving average of $91.20. Red River Bancshares has a one year low of $60.99 and a one year high of $103.49.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.76 by $0.02. The firm had revenue of $33.73 million during the quarter, compared to analyst estimates of $33.66 million. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.65%. As a group, sell-side analysts predict that Red River Bancshares will post 7.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Red River Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in shares of Red River Bancshares in the 1st quarter valued at about $26,000. Clearstead Advisors LLC lifted its holdings 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 acquiring an additional 522 shares during the period. State of Alaska Department of Revenue boosted its position in Red River Bancshares by 258.0% in the 4th 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in Red River Bancshares by 534.7% in the 2nd 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Red River Bancshares by 54.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock worth $105,000 after purchasing an additional 571 shares during the period. 27.55% of the stock is 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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