Red River Bancshares (NASDAQ:RRBI) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Key Points

• Red River Bancshares beat earnings expectations, reporting quarterly EPS of $1.78 versus the $1.76 consensus estimate. Trading volume rose 45% to 104,035 shares, while the stock last traded at $99.63.
• The company paid a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 1.0% yield; its payout ratio is 14.97%.
• Analyst sentiment remains cautious, with one Buy and three Hold ratings producing a consensus “Hold” rating and an $80.50 price target, below the recent share price. Institutional investors and hedge funds own 27.55% of the stock.

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) saw unusually-high trading volume on Thursday following a stronger than expected earnings report. 104,035 shares changed hands during trading, an increase of 45% from the previous session's volume of 71,770 shares.The stock last traded at $99.63 and had previously closed at $101.68.

The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.76 by $0.02. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%.

Red River Bancshares Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RRBI. Stephens lowered Red River Bancshares from an "overweight" rating to an "equal weight" rating and set a $94.00 price target on the stock. in a research note on Tuesday, May 5th. Weiss Ratings raised shares of Red River Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial began coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They issued a "market perform" rating for the company. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $80.50.

Institutional Trading of Red River Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of RRBI. Jacobs Levy Equity Management Inc. raised its holdings in shares of Red River Bancshares by 2.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company's stock worth $670,000 after purchasing an additional 200 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Red River Bancshares by 5.8% during the 3rd quarter. NewEdge Advisors LLC now owns 5,419 shares of the company's stock valued at $351,000 after buying an additional 296 shares during the last quarter. State Street Corp lifted its holdings in shares of Red River Bancshares by 0.4% in the 4th quarter. State Street Corp now owns 99,742 shares of the company's stock valued at $7,125,000 after buying an additional 404 shares during the period. Strs Ohio acquired a new stake in Red River Bancshares during the first quarter worth about $26,000. Finally, 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. 27.55% of the stock is currently owned by institutional investors and hedge funds.

Red River Bancshares Stock Performance

The firm has a market cap of $655.83 million, a price-to-earnings ratio of 14.91 and a beta of 0.42. The business's 50 day moving average price is $93.58 and its 200 day moving average price is $89.99.

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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