Red River Bancshares (NASDAQ:RRBI) Stock Price Down 0.4% – Here’s Why

Red River Bancshares, Inc. (NASDAQ:RRBI) shares were down 0.4% during trading on Tuesday . The stock traded as low as $90.66 and last traded at $91.28. 48,628 shares were traded during trading, a decline of 55% from the average daily volume of 107,294 shares. The stock had previously closed at $91.67.

Wall Street Analyst Weigh In

RRBI has been the subject of several analyst reports. Stephens lowered shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price objective for the company. in a research note on Tuesday, May 5th. Raymond James Financial started coverage on Red River Bancshares in a report on Wednesday. They set a “market perform” rating on the stock. Zacks Research cut Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings downgraded Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.50.

Red River Bancshares Stock Up 0.3%

The stock’s 50-day moving average price is $91.04 and its 200 day moving average price is $86.53. The company has a market cap of $624.19 million, a P/E ratio of 14.19 and a beta of 0.42.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.12. The business had revenue of $32.94 million during the quarter, compared to the consensus estimate of $33.03 million. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. Analysts expect that Red River Bancshares, Inc. will post 7.22 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 8th. Red River Bancshares’s dividend payout ratio (DPR) is currently 14.97%.

Hedge Funds Weigh In On Red River Bancshares

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of Red River Bancshares by 36.3% during the 1st quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after purchasing an additional 1,784 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 valued at $2,552,000 after buying an additional 15,205 shares during the last quarter. Jane Street Group LLC bought a new position in Red River Bancshares in the 1st quarter worth approximately $315,000. Strs Ohio acquired a new position in shares of Red River Bancshares during the first quarter worth approximately $26,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Red River Bancshares by 3.0% during the second quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock worth $6,527,000 after buying an additional 3,196 shares during the last quarter. 27.55% of the stock is currently owned by institutional investors.

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.