Red River Bancshares (NASDAQ:RRBI) Reaches New 52-Week High – Here’s What Happened

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) hit a new 52-week high during trading on Tuesday . The company traded as high as $104.87 and last traded at $102.69, with a volume of 60180 shares trading hands. The stock had previously closed at $103.48.

Analyst Ratings Changes

Several research firms recently weighed in on RRBI. Wall Street Zen raised shares of Red River Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Stephens upped their target price on shares of Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, August 19th. Finally, Raymond James Financial assumed coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $106.00.

Red River Bancshares Trading Down 1.1%

The firm has a market cap of $669.51 million, a P/E ratio of 14.64 and a beta of 0.41. The company has a fifty day moving average price of $100.66 and a two-hundred day moving average price of $94.49.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.02. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%.The business had revenue of $33.71 million during the quarter, compared to analyst estimates of $33.66 million. As a group, sell-side analysts expect that Red River Bancshares, Inc. will post 7.26 EPS for the current year.

Red River Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 8th. Red River Bancshares’s dividend payout ratio is 14.39%.

Institutional Investors Weigh In On Red River Bancshares

Large investors have recently made changes to their positions in the stock. Tidal Investments LLC bought a new position in Red River Bancshares during the 2nd quarter worth about $395,000. Integrated Wealth Concepts LLC acquired a new position in Red River Bancshares during the 2nd quarter worth approximately $32,000. Bank of America Corp DE acquired a new position in Red River Bancshares during the 2nd quarter worth approximately $1,829,000. Canada Pension Plan Investment Board bought a new position in shares of Red River Bancshares during the 2nd quarter worth approximately $557,000. Finally, Legal & General Group Plc bought a new position in shares of Red River Bancshares during the 2nd quarter worth approximately $46,000. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Company Profile

Red River Bancshares, Inc is the bank holding company for Red River Bank, a Louisiana-based community bank headquartered in Alexandria. Founded in 1999, the company provides banking services to businesses, professionals, individuals and public-sector customers through its network of banking locations and digital channels.

Red River Bank offers a range of commercial and personal financial products, including checking and savings accounts, certificates of deposit, commercial and industrial loans, commercial real estate financing, residential mortgage loans, consumer lending and small-business financing.