Red River Bancshares (NASDAQ:RRBI) Given New $106.00 Price Target at Stephens

Red River Bancshares (NASDAQ:RRBI) had its price objective hoisted by Stephens from $101.00 to $106.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts have also recently weighed in on RRBI. Raymond James Financial assumed coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They set a “market perform” rating on the stock. Weiss Ratings raised shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $106.00.

Red River Bancshares Stock Performance

Shares of NASDAQ RRBI opened at $100.55 on Friday. The stock’s 50-day simple moving average is $93.93 and its 200-day simple moving average is $90.25. The firm has a market capitalization of $661.62 million, a PE ratio of 14.47 and a beta of 0.42. Red River Bancshares has a fifty-two week low of $58.67 and a fifty-two week high of $103.49.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.02. The firm had revenue of $33.70 million during the quarter, compared to analysts’ expectations of $33.66 million. Red River Bancshares had a return on equity of 12.65% and a net margin of 26.25%. On average, sell-side analysts forecast that Red River Bancshares will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, June 8th. Red River Bancshares’s payout ratio is presently 14.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RRBI. AQR Capital Management LLC increased its position in Red River Bancshares by 36.3% during the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after buying an additional 1,784 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Red River Bancshares by 44.5% in the first quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock valued at $2,552,000 after acquiring an additional 15,205 shares during the period. Jane Street Group LLC purchased a new position in shares of Red River Bancshares during the first quarter worth approximately $315,000. Strs Ohio purchased a new position in shares of Red River Bancshares during the first quarter worth approximately $26,000. Finally, Geode Capital Management LLC increased its holdings in shares of Red River Bancshares by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock valued at $6,527,000 after acquiring an additional 3,196 shares during the period. Hedge funds and other institutional investors own 27.55% of the company’s stock.

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.