Red River Bancshares (NASDAQ:RRBI) Reaches New 12-Month High - Still a Buy?

Key Points

• Red River Bancshares reached a new 52-week high of $104.35, valuing the company at approximately $682 million. Its shares trade at a P/E ratio of 14.92 and remain above both their 50-day and 200-day moving averages.
• Analysts maintain a generally neutral view: one rates the stock a Buy and three rate it Hold, resulting in a consensus Hold rating and a $106 price target.
• The bank modestly exceeded quarterly expectations, reporting $1.78 in earnings per share and $33.73 million in revenue. It also pays a quarterly dividend of $0.25, equivalent to a 1.0% annual yield and a 14.39% payout ratio.

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $104.35 and last traded at $104.2050, with a volume of 7709 shares trading hands. The stock had previously closed at $102.33.

Analysts Set New Price Targets

A number of research firms have weighed in on RRBI. Weiss Ratings lowered shares of Red River Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Raymond James Financial started coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They issued a "market perform" rating on the stock. Stephens raised their price target on shares of 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, Wall Street Zen upgraded Red River Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $106.00.

Red River Bancshares Stock Performance

The stock has a market cap of $682.41 million, a P/E ratio of 14.92 and a beta of 0.41. The company's 50 day moving average price is $95.57 and its 200-day moving average price is $91.81.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last released its quarterly 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 net margin of 26.25% and a return on equity of 12.65%. The company had revenue of $33.73 million for the quarter, compared to analyst estimates of $33.66 million. On average, analysts forecast that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, June 8th. Red River Bancshares's payout ratio is presently 14.39%.

Institutional Trading of Red River Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio bought a new position in Red River Bancshares in the 1st quarter valued at $26,000. Clearstead Advisors LLC raised its stake 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 worth $38,000 after purchasing an additional 522 shares during the period. State of Alaska Department of Revenue boosted its holdings 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 worth $66,000 after buying an additional 681 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Red River Bancshares by 534.7% during 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 period. Finally, BNP Paribas Financial Markets grew its position in Red River Bancshares by 54.6% during 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 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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