Zacks Investment Research Lowers Red River Bancshares (NASDAQ:RRBI) to Hold

Red River Bancshares (NASDAQ:RRBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Red River Bancshares Inc. is the bank holding company for Red River Bank, a state-chartered bank. It provides banking products and services to commercial and retail customers. The company offers checking accounts, money market accounts, time deposits, real estate loans, commercial loans, treasury management services and private banking services, residential mortgage lending and investment services. Red River Bancshares Inc. is based in Alexandria, Louisiana. “

Shares of NASDAQ RRBI opened at $56.84 on Tuesday. Red River Bancshares has a 12 month low of $34.29 and a 12 month high of $65.07. The company has a market cap of $415.39 million, a price-to-earnings ratio of 15.12 and a beta of 0.95. The business has a fifty day simple moving average of $56.69 and a 200-day simple moving average of $52.00.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Wednesday, April 28th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.18. Red River Bancshares had a return on equity of 10.37% and a net margin of 28.54%. Research analysts anticipate that Red River Bancshares will post 3.66 earnings per share for the current fiscal year.

In other news, Director Teddy Ray Price bought 629 shares of the company’s stock in a transaction on Thursday, February 4th. The shares were bought at an average cost of $48.00 per share, with a total value of $30,192.00. Following the transaction, the director now directly owns 342,372 shares in the company, valued at approximately $16,433,856. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Barry Dale Hines sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $50.00, for a total value of $375,000.00. Following the completion of the transaction, the director now directly owns 12,986 shares in the company, valued at $649,300. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,150 shares of company stock worth $473,576. Insiders own 21.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of RRBI. The Manufacturers Life Insurance Company increased its holdings in shares of Red River Bancshares by 39.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 51,059 shares of the company’s stock valued at $2,860,000 after acquiring an additional 14,501 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Red River Bancshares by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,721 shares of the company’s stock valued at $680,000 after acquiring an additional 1,654 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Red River Bancshares by 701.4% during the 4th quarter. JPMorgan Chase & Co. now owns 14,745 shares of the company’s stock valued at $730,000 after acquiring an additional 12,905 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Red River Bancshares by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 20,223 shares of the company’s stock valued at $1,002,000 after acquiring an additional 207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Red River Bancshares by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,022 shares of the company’s stock valued at $1,686,000 after acquiring an additional 458 shares during the last quarter. 15.23% of the stock is currently owned by institutional investors.

Red River Bancshares Company Profile

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. It provides various deposit products, including checking, saving, money market accounts, and time deposits. The company also 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; tax-exempt loans; small business administration paycheck protection program 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.

Featured Article: Understanding Specialty Certificates of Deposit

Get a free copy of the Zacks research report on Red River Bancshares (RRBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Red River Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red River Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.