Red River Bancshares (NASDAQ:RRBI) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Red River Bancshares from “Hold” to “Sell.” Despite the downgrade, the broader analyst consensus remains “Hold,” with a consensus price target of $106.
• Red River Bancshares reported quarterly earnings of $1.78 per share, slightly exceeding the $1.76 consensus estimate, while revenue of $33.70 million also edged past expectations.
• RRBI shares opened at $100.55, near their 52-week high of $103.49. The company has a $661.62 million market capitalization, and institutional investors and hedge funds own 27.55% of its stock.

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

RRBI has been the subject of a number of other reports. Stephens boosted their target price on shares of Red River Bancshares from $101.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Friday. Raymond James Financial started coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They set a "market perform" rating on the stock. Finally, Weiss Ratings raised shares of Red River Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Red River Bancshares presently has an average rating of "Hold" and a consensus target price of $106.00.

Red River Bancshares Stock Performance

Shares of RRBI stock opened at $100.55 on Friday. The stock's fifty day moving average is $93.93 and its 200-day moving average is $90.25. The stock has a market capitalization of $661.62 million, a PE ratio of 14.47 and a beta of 0.42. Red River Bancshares has a 52 week low of $58.67 and a 52 week high of $103.49.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.02. Red River Bancshares had a return on equity of 12.65% and a net margin of 26.25%.The company had revenue of $33.70 million during the quarter, compared to analyst estimates of $33.66 million. As a group, analysts forecast that Red River Bancshares will post 7.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Red River Bancshares

Several large investors have recently bought and sold shares of RRBI. Strs Ohio acquired a new stake in Red River Bancshares during the 1st quarter worth $26,000. Clearstead Advisors LLC raised its position in shares of 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 acquiring an additional 522 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of 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 valued at $66,000 after purchasing an additional 681 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of 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 valued at $74,000 after purchasing an additional 1,064 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Red River Bancshares by 54.6% in 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 last quarter. 27.55% of the stock is currently owned by institutional investors and hedge funds.

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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