Red River Bancshares (NASDAQ:RRBI) Reaches New 12-Month High - What's Next?

Key Points

• Red River Bancshares hit a new 52-week high, trading as high as $100.80 before ending near $97.98, signaling strong recent momentum in the stock.
• Despite the rally, Wall Street sentiment remains cautious: the stock carries a consensus Hold rating and an average price target of $80.50, with several recent downgrades from analysts.
• The bank posted better-than-expected earnings for its latest quarter, with EPS of $1.81 versus estimates of $1.69, and it also paid a quarterly dividend of $0.25, equal to a 1.0% annualized yield.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $100.80 and last traded at $97.98, with a volume of 173654 shares. The stock had previously closed at $98.25.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RRBI. Raymond James Financial assumed coverage on Red River Bancshares in a research report on Wednesday, July 1st. They issued a "market perform" rating on the stock. Weiss Ratings cut Red River Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, June 29th. Zacks Research downgraded shares of Red River Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, Stephens lowered shares of Red River Bancshares from an "overweight" rating to an "equal weight" rating and set a $94.00 target price on the stock. in a report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Red River Bancshares currently has a consensus rating of "Hold" and a consensus price target of $80.50.

Red River Bancshares Trading Down 0.3%

The company's 50 day simple moving average is $92.32 and its 200 day simple moving average is $88.82. The stock has a market capitalization of $645.20 million, a PE ratio of 14.67 and a beta of 0.42.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.12. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%.The company had revenue of $32.94 million for the quarter, compared to analyst estimates of $33.03 million. As a group, analysts predict that Red River Bancshares, Inc. will post 7.26 EPS for the current year.

Red River Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, June 8th. Red River Bancshares's dividend payout ratio is presently 14.97%.

Institutional Trading of Red River Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new stake in Red River Bancshares in the 1st quarter valued at about $226,000. Bank of America Corp DE lifted its holdings in shares of Red River Bancshares by 70.2% during the 1st quarter. Bank of America Corp DE now owns 13,794 shares of the company's stock worth $1,248,000 after acquiring an additional 5,688 shares during the period. Quantinno Capital Management LP boosted its position in shares of Red River Bancshares by 13.1% in the first quarter. Quantinno Capital Management LP now owns 6,008 shares of the company's stock worth $543,000 after acquiring an additional 696 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Red River Bancshares by 164.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company's stock worth $6,546,000 after acquiring an additional 45,014 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in Red River Bancshares in the first quarter valued at approximately $1,627,000. 27.55% of the stock is owned by institutional investors and hedge funds.

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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