Red River Bancshares' (RRBI) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• Red River Bancshares (RRBI) retained its "buy" rating from Weiss Ratings, with various firms expressing positive sentiment towards the stock.
• Zacks Research upgraded RRBI from "hold" to "strong-buy," while Raymond James increased its price target from $62.00 to $67.00.
• As of Wednesday, RRBI's stock opened at $65.00, with its 52-week price range between $46.33 and $68.20.

Red River Bancshares (NASDAQ:RRBI - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research firms also recently commented on RRBI. Zacks Research upgraded shares of Red River Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Raymond James Financial restated an "outperform" rating and issued a $67.00 price target (up previously from $62.00) on shares of Red River Bancshares in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, Red River Bancshares has a consensus rating of "Buy" and an average price target of $67.00.

Red River Bancshares Stock Performance

Red River Bancshares stock opened at $65.00 on Wednesday. Red River Bancshares has a fifty-two week low of $46.33 and a fifty-two week high of $68.20. The firm has a 50 day moving average price of $64.22 and a 200 day moving average price of $58.84. The company has a market capitalization of $434.20 million, a PE ratio of 11.46 and a beta of 0.53.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. The firm had revenue of $30.09 million during the quarter, compared to the consensus estimate of $30.04 million. Red River Bancshares had a net margin of 23.62% and a return on equity of 11.76%. As a group, equities research analysts forecast that Red River Bancshares will post 5.28 earnings per share for the current year.

Institutional Investors Weigh In On Red River Bancshares

Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in shares of 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 worth $74,000 after purchasing an additional 1,064 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Red River Bancshares during the 2nd quarter worth $117,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Red River Bancshares by 42.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 20,335 shares of the company's stock worth $1,194,000 after purchasing an additional 6,011 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Red River Bancshares by 27.3% during the 2nd quarter. Rhumbline Advisers now owns 9,132 shares of the company's stock worth $536,000 after purchasing an additional 1,961 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Red River Bancshares by 615.7% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 36,500 shares of the company's stock worth $2,143,000 after purchasing an additional 31,400 shares during the last quarter. 27.55% of the stock is owned by hedge funds and other institutional investors.

Red River Bancshares Company Profile

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It offers commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit.

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