Red River Bancshares (NASDAQ:RRBI) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Red River Bancshares saw unusually high trading volume on Tuesday, with 89,956 shares changing hands, up 28% from the prior session, while the stock was essentially flat at about $98.25.
• Recent analyst sentiment has turned more cautious: multiple firms have cut ratings, and the consensus from MarketBeat is now Hold with an average price target of $80.50.
• The company recently reported solid quarterly results, beating EPS estimates at $1.81 per share, and also paid a quarterly dividend of $0.25, equal to a 1.0% annualized yield.

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) saw unusually-high trading volume on Tuesday . 89,956 shares traded hands during trading, an increase of 28% from the previous session's volume of 70,514 shares.The stock last traded at $98.2450 and had previously closed at $98.25.

Analyst Upgrades and Downgrades

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

Red River Bancshares Stock Performance

The stock has a market cap of $644.85 million, a P/E ratio of 14.67 and a beta of 0.42. The business's 50-day moving average price is $92.15 and its 200-day moving average price is $88.64.

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

Red River Bancshares Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Red River Bancshares by 345.1% in the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company's stock worth $20,489,000 after purchasing an additional 222,401 shares in the last quarter. Boston Partners purchased a new position in shares of Red River Bancshares during the 4th quarter valued at $4,117,000. First Eagle Investment Management LLC bought a new position in Red River Bancshares in the 4th quarter worth $3,528,000. Arrowstreet Capital Limited Partnership boosted its holdings in Red River Bancshares by 164.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company's stock worth $6,546,000 after buying an additional 45,014 shares during the period. Finally, Sei Investments Co. purchased a new stake in Red River Bancshares in the 1st quarter worth $1,627,000. 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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