Red River Bancshares (NASDAQ:RRBI) Sees Large Volume Increase - Time to Buy?

Key Points

• Trading volume rose 27% to 65,416 shares as RRBI last traded around $89.29, slightly below the prior close of $90.58.
• Analysts have an average "Buy" rating but the consensus price target is only $67.00, well below the current market price.
• Red River beat quarterly expectations (EPS $1.73 vs. $1.63; revenue $33.19M vs. $32.19M) and hiked its quarterly dividend from $0.15 to $0.25, an annualized $1.00 (≈1.1% yield).

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) saw an uptick in trading volume on Thursday . 65,416 shares traded hands during trading, an increase of 27% from the previous session's volume of 51,709 shares.The stock last traded at $89.2860 and had previously closed at $90.58.

Analyst Upgrades and Downgrades

RRBI has been the topic of several recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Red River Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $67.00.

Red River Bancshares Trading Up 0.3%

The firm has a market cap of $597.86 million, a P/E ratio of 14.22 and a beta of 0.48. The stock has a 50 day simple moving average of $86.22 and a 200-day simple moving average of $74.60.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last posted its earnings results on Friday, January 30th. The company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.10. The firm had revenue of $33.19 million during the quarter, compared to analyst estimates of $32.19 million. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. As a group, equities analysts forecast that Red River Bancshares, Inc. will post 5.28 earnings per share for the current fiscal year.

Red River Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were issued a $0.25 dividend. This is a boost from Red River Bancshares's previous quarterly dividend of $0.15. The ex-dividend date was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Red River Bancshares's payout ratio is presently 15.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Red River Bancshares during the first quarter valued at approximately $26,000. Clearstead Advisors LLC increased 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 purchasing an additional 522 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Red River Bancshares by 258.0% during 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 last quarter. Tower Research Capital LLC TRC raised its holdings in Red River Bancshares by 534.7% during the 2nd 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 raised its holdings in Red River Bancshares by 54.6% during the 3rd 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. Hedge funds and other institutional investors own 27.55% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.