Red River Bancshares (NASDAQ:RRBI) Sees Strong Trading Volume – What’s Next?

by · The Markets Daily

Red River Bancshares, Inc. (NASDAQ:RRBIGet Free Report) saw unusually-strong trading volume on Monday . Approximately 35,079 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 42,461 shares.The stock last traded at $91.2650 and had previously closed at $91.04.

Wall Street Analyst Weigh In

RRBI has been the topic of a number of recent research reports. Zacks Research raised Red River Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $67.00.

Read Our Latest Analysis on RRBI

Red River Bancshares Price Performance

The business has a 50-day moving average of $76.66 and a 200 day moving average of $69.20. The company has a market cap of $585.62 million, a PE ratio of 13.93 and a beta of 0.51.

Red River Bancshares (NASDAQ:RRBIGet Free Report) last posted its quarterly earnings data on Friday, January 30th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.10. Red River Bancshares had a return on equity of 12.58% and a net margin of 25.18%.The firm had revenue of $33.19 million for the quarter, compared to analysts’ expectations of $32.19 million. On average, equities analysts predict that Red River Bancshares, Inc. will post 5.28 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Monday, December 8th were paid a $0.15 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%. Red River Bancshares’s dividend payout ratio (DPR) is presently 9.39%.

Institutional Trading of Red River Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of RRBI. AQR Capital Management LLC boosted its holdings in Red River Bancshares by 36.3% in the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after acquiring an additional 1,784 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Red River Bancshares by 44.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock worth $2,552,000 after purchasing an additional 15,205 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Red River Bancshares in the 1st quarter valued at about $315,000. Strs Ohio purchased a new position in shares of Red River Bancshares during the 1st quarter valued at approximately $26,000. Finally, Corton Capital Inc. acquired a new position in shares of Red River Bancshares during the 2nd quarter worth about $245,000. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Company Profile

(Get Free Report)

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.

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