Red River Bancshares (NASDAQ:RRBI) Sees Unusually-High Trading Volume After Strong Earnings

Key Points

• EPS beat: Red River reported Q EPS of $1.81 versus $1.68 expected, lifting mid-day volume 17% to 64,782 shares and the stock to about $91.66, while revenue of $32.94M narrowly missed estimates.
• Dividend increase: The quarterly dividend was raised to $0.25 from $0.15 (annualized $1.00), implying a 1.1% yield and a 15.65% payout ratio.
• Analyst and institutional picture: Ratings are mixed (two Buy, two Hold) with a MarketBeat average of "Moderate Buy" and a $67 average price target, and institutions—led by Wellington Management's large position increase—now own 27.55% of shares.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) saw strong trading volume on Friday following a stronger than expected earnings report. 64,782 shares changed hands during mid-day trading, an increase of 17% from the previous session's volume of 55,530 shares.The stock last traded at $91.6550 and had previously closed at $90.73.

The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.13. Red River Bancshares had a return on equity of 12.35% and a net margin of 25.18%.The firm had revenue of $32.94 million during the quarter, compared to analysts' expectations of $33.03 million.

Red River Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were paid a $0.25 dividend. This is a boost from Red River Bancshares's previous quarterly dividend of $0.15. The ex-dividend date of this dividend 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 dividend payout ratio is presently 15.65%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RRBI. Stephens reissued an "overweight" rating on shares of Red River Bancshares in a research note on Friday. Weiss Ratings reissued a "buy (b)" rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. Zacks Research lowered Red River Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, Raymond James Financial reissued a "market perform" rating on shares of Red River Bancshares in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Red River Bancshares presently has an average rating of "Moderate Buy" and an average price target of $67.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RRBI. SG Americas Securities LLC bought a new position in Red River Bancshares during the 1st quarter valued at approximately $189,000. Wellington Management Group LLP increased its position in Red River Bancshares by 345.1% during the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company's stock valued at $20,489,000 after buying an additional 222,401 shares in the last quarter. Polymer Capital Management US LLC bought a new position in Red River Bancshares during the 4th quarter valued at approximately $329,000. AQR Capital Management LLC increased its position in Red River Bancshares by 52.4% during the 4th quarter. AQR Capital Management LLC now owns 34,381 shares of the company's stock valued at $2,456,000 after buying an additional 11,822 shares in the last quarter. Finally, Trexquant Investment LP increased its position in Red River Bancshares by 28.2% during the 4th quarter. Trexquant Investment LP now owns 12,998 shares of the company's stock valued at $928,000 after buying an additional 2,859 shares in the last quarter. Hedge funds and other institutional investors own 27.55% of the company's stock.

Red River Bancshares Stock Performance

The company has a market cap of $602.03 million, a P/E ratio of 14.39 and a beta of 0.45. The stock has a 50-day moving average of $90.97 and a two-hundred day moving average of $79.59.

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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