Red River Bancshares' (RRBI) "Outperform" Rating Reiterated at Raymond James Financial

Key Points

• Red River Bancshares has received an "outperform" rating from Raymond James Financial, with a new target price of $67.00, reflecting an expected upside of 11.05% from its current price.
• The company's stock recently rose by 0.7%, trading at $60.34, with a market capitalization of $409.55 million and a price-to-earnings ratio of 10.64.
• Red River Bancshares reported an EPS of $1.51 for the last quarter, exceeding analysts' expectations and contributing to a positive outlook among institutional investors, who own 27.55% of the company's stock.

Red River Bancshares (NASDAQ:RRBI - Get Free Report)'s stock had its "outperform" rating reiterated by Raymond James Financial in a note issued to investors on Friday,Benzinga reports. They presently have a $67.00 target price on the stock, up from their previous target price of $62.00. Raymond James Financial's price target indicates a potential upside of 11.05% from the company's current price.

Red River Bancshares Stock Up 0.7%

Red River Bancshares stock traded up $0.40 during midday trading on Friday, hitting $60.34. 23,285 shares of the stock were exchanged, compared to its average volume of 14,031. The stock has a market capitalization of $409.55 million, a price-to-earnings ratio of 10.64 and a beta of 0.50. Red River Bancshares has a 52-week low of $46.33 and a 52-week high of $64.65. The business's 50-day moving average price is $59.55 and its 200-day moving average price is $55.64.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.08. The company had revenue of $30.09 million for the quarter, compared to analysts' expectations of $30.04 million. Red River Bancshares had a net margin of 23.62% and a return on equity of 11.85%. On average, sell-side analysts predict that Red River Bancshares will post 5.28 earnings per share for the current fiscal year.

Institutional Trading of Red River Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Red River Bancshares by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 84,557 shares of the company's stock worth $4,564,000 after acquiring an additional 5,346 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Red River Bancshares by 44.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company's stock worth $2,552,000 after buying an additional 15,205 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Red River Bancshares by 27.4% in the 1st quarter. Acadian Asset Management LLC now owns 42,351 shares of the company's stock worth $2,184,000 after buying an additional 9,111 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Red River Bancshares by 2.9% in the 4th quarter. Northern Trust Corp now owns 38,831 shares of the company's stock worth $2,096,000 after buying an additional 1,087 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Red River Bancshares by 50.4% in the 4th quarter. Millennium Management LLC now owns 21,883 shares of the company's stock worth $1,181,000 after buying an additional 7,334 shares during the last quarter. Institutional investors own 27.55% of the company's stock.

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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