Red River Bancshares (NASDAQ:RRBI) Lowered to “Hold” Rating by Zacks Research

Red River Bancshares (NASDAQ:RRBI) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Red River Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Red River Bancshares Trading Up 2.1%

Red River Bancshares stock opened at $92.32 on Tuesday. The firm has a market capitalization of $607.19 million, a P/E ratio of 14.45 and a beta of 0.48. The business has a 50-day moving average of $87.67 and a 200-day moving average of $75.50. Red River Bancshares has a 1 year low of $46.33 and a 1 year high of $93.90.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Friday, January 30th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.10. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. The business had revenue of $33.19 million for the quarter, compared to analyst estimates of $32.19 million. Research analysts anticipate that Red River Bancshares will post 5.28 EPS for the current fiscal year.

Institutional Trading of Red River Bancshares

Several hedge funds have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Red River Bancshares by 2.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock valued at $670,000 after buying an additional 200 shares during the period. NewEdge Advisors LLC lifted its position in Red River Bancshares by 5.8% in the 3rd quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock valued at $351,000 after acquiring an additional 296 shares in the last quarter. State Street Corp boosted its stake in Red River Bancshares by 0.4% in the 4th quarter. State Street Corp now owns 99,742 shares of the company’s stock worth $7,125,000 after purchasing an additional 404 shares during the period. Strs Ohio bought a new position in Red River Bancshares during the 1st quarter worth about $26,000. Finally, Clearstead Advisors LLC raised its stake in shares of Red River Bancshares by 4,015.4% in the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after purchasing an additional 522 shares during the period. 27.55% of the stock is currently owned by institutional investors and hedge funds.

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.