Red River Bancshares (NASDAQ:RRBI) Trading 0% Higher – Still a Buy?

Red River Bancshares, Inc. (NASDAQ:RRBI)’s share price were up 0% during trading on Monday . The company traded as high as $75.60 and last traded at $74.22. Approximately 69,623 shares were traded during trading, an increase of 111% from the average daily volume of 32,960 shares. The stock had previously closed at $74.21.

Wall Street Analyst Weigh In

RRBI has been the subject of several recent analyst reports. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Red River Bancshares Trading Up 0.0%

The firm has a market cap of $488.14 million, a PE ratio of 12.31 and a beta of 0.51. The company has a 50 day moving average price of $67.63 and a 200 day moving average price of $64.07.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.08. The firm had revenue of $31.91 million during the quarter, compared to the consensus estimate of $31.28 million. Red River Bancshares had a return on equity of 12.14% and a net margin of 24.44%. As a group, equities research analysts anticipate that Red River Bancshares, Inc. will post 5.28 earnings per share for the current fiscal year.

Red River Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 8th. Red River Bancshares’s payout ratio is 9.95%.

Institutional Investors Weigh In On Red River Bancshares

A number of large investors have recently added to or reduced their stakes in RRBI. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Red River Bancshares by 20.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,674 shares of the company’s stock valued at $861,000 after acquiring an additional 2,803 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Red River Bancshares in the first quarter valued at approximately $666,000. Russell Investments Group Ltd. increased its stake in shares of Red River Bancshares by 6.6% during the 1st quarter. Russell Investments Group Ltd. now owns 19,684 shares of the company’s stock worth $1,017,000 after purchasing an additional 1,219 shares in the last quarter. Martingale Asset Management L P raised its position in shares of Red River Bancshares by 14.1% during the 1st quarter. Martingale Asset Management L P now owns 13,832 shares of the company’s stock worth $714,000 after purchasing an additional 1,705 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Red River Bancshares during the 1st quarter worth approximately $269,000. 27.55% of the stock is owned by institutional investors and hedge funds.

About Red River Bancshares

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.