Zacks Research Upgrades Red River Bancshares (NASDAQ:RRBI) to Strong-Buy

Red River Bancshares (NASDAQ:RRBI) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Red River Bancshares in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $67.00.

Red River Bancshares Price Performance

RRBI opened at $88.98 on Monday. The business has a fifty day moving average price of $74.21 and a 200 day moving average price of $68.06. Red River Bancshares has a 12 month low of $46.33 and a 12 month high of $90.46. The stock has a market capitalization of $585.49 million, a price-to-earnings ratio of 13.92 and a beta of 0.51.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Friday, January 30th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $33.19 million during the quarter, compared to analysts’ expectations of $32.19 million. On average, research analysts anticipate that Red River Bancshares will post 5.28 earnings per share for the current year.

Hedge Funds Weigh In On Red River Bancshares

Several institutional investors have recently bought and sold shares of RRBI. Strs Ohio purchased a new stake in shares of Red River Bancshares during the 1st quarter worth approximately $26,000. State of Alaska Department of Revenue increased its stake in Red River Bancshares by 258.0% in the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock valued at $66,000 after purchasing an additional 681 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Red River Bancshares by 534.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock worth $74,000 after purchasing an additional 1,064 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Red River Bancshares by 54.6% during the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after purchasing an additional 571 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Red River Bancshares in the second quarter valued at $117,000. 27.55% of the stock is owned by institutional investors and hedge funds.

About Red River Bancshares

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.