Red River Bancshares (NASDAQ:RRBI) Announces Earnings Results

Red River Bancshares (NASDAQ:RRBI) posted its quarterly earnings data on Thursday. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.13, FiscalAI reports. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.35%. The firm had revenue of $32.94 million during the quarter, compared to the consensus estimate of $33.03 million.

Red River Bancshares Stock Performance

Shares of NASDAQ RRBI traded up $0.18 during trading hours on Friday, hitting $90.91. 106,917 shares of the stock were exchanged, compared to its average volume of 56,419. The company’s fifty day simple moving average is $90.97 and its two-hundred day simple moving average is $79.59. The company has a market cap of $598.19 million, a PE ratio of 14.35 and a beta of 0.45. Red River Bancshares has a 1-year low of $52.53 and a 1-year high of $98.85.

Red River Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. This is a positive change from Red River Bancshares’s previous quarterly dividend of $0.15. Red River Bancshares’s dividend payout ratio (DPR) is 15.65%.

Institutional Investors Weigh In On Red River Bancshares

Large investors have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of Red River Bancshares by 345.1% in the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after purchasing an additional 222,401 shares during the last quarter. Boston Partners bought a new stake in shares of Red River Bancshares during the 4th quarter worth $4,117,000. Goldman Sachs Group Inc. boosted its stake in Red River Bancshares by 44.5% in the first quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock valued at $2,552,000 after buying an additional 15,205 shares in the last quarter. AQR Capital Management LLC boosted its stake in Red River Bancshares by 52.4% in the fourth 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, Dimensional Fund Advisors LP grew its position in Red River Bancshares by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 111,448 shares of the company’s stock valued at $7,961,000 after acquiring an additional 8,954 shares during the last quarter. Institutional investors and hedge funds own 27.55% of the company’s stock.

Analyst Upgrades and Downgrades

RRBI has been the subject of a number of analyst reports. Raymond James Financial reiterated a “market perform” rating on shares of Red River Bancshares in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. Stephens reiterated an “overweight” rating and set a $101.00 target price on shares of Red River Bancshares in a research report on Friday. Finally, Zacks Research lowered Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Red River Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

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.