Red River Bancshares (NASDAQ:RRBI) Sees Strong Trading Volume – Still a Buy?

Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) saw strong trading volume on Wednesday . 59,767 shares traded hands during mid-day trading, a decline of 14% from the previous session’s volume of 69,234 shares.The stock last traded at $97.1140 and had previously closed at $96.20.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings lowered Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Raymond James Financial initiated coverage on Red River Bancshares in a research note on Wednesday, July 1st. They set a “market perform” rating on the stock. Finally, Stephens lowered Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target on the stock. in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $80.50.

Red River Bancshares Price Performance

The business’s fifty day moving average price is $91.84 and its 200-day moving average price is $88.27. The stock has a market capitalization of $657.14 million, a price-to-earnings ratio of 14.95 and a beta of 0.42.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, April 30th. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.12. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. The company had revenue of $32.94 million for the quarter, compared to analyst estimates of $33.03 million. Equities research analysts predict that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, June 8th. Red River Bancshares’s payout ratio is currently 14.97%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of Red River Bancshares by 345.1% during the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after buying an additional 222,401 shares during the last quarter. Boston Partners purchased a new stake in Red River Bancshares in the 4th quarter valued at $4,117,000. First Eagle Investment Management LLC bought a new position in Red River Bancshares during the 4th quarter valued at $3,528,000. Arrowstreet Capital Limited Partnership lifted its stake in Red River Bancshares by 164.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock valued at $6,546,000 after acquiring an additional 45,014 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Red River Bancshares during the 1st quarter worth $1,627,000. Institutional investors own 27.55% of the company’s stock.

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.