Red River Bancshares (NASDAQ:RRBI) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Red River Bancshares (NASDAQ:RRBI) from a hold rating to a sell rating in a research report released on Tuesday morning, 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. “

Separately, ValuEngine lowered shares of Red River Bancshares from a hold rating to a sell rating in a report on Wednesday, October 2nd.

Shares of RRBI stock traded down $0.42 during trading hours on Tuesday, hitting $43.06. The company had a trading volume of 14 shares, compared to its average volume of 4,077. The business’s fifty day moving average is $43.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.90 and a current ratio of 0.91. Red River Bancshares has a fifty-two week low of $42.35 and a fifty-two week high of $58.00.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.10). The firm had revenue of $19.75 million for the quarter, compared to analysts’ expectations of $19.26 million. As a group, research analysts predict that Red River Bancshares will post 3.36 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. purchased a new stake in Red River Bancshares during the 2nd quarter worth approximately $132,000. Banc Funds Co. LLC purchased a new stake in Red River Bancshares during the 2nd quarter worth approximately $1,615,000. Castine Capital Management LLC purchased a new stake in Red River Bancshares during the 2nd quarter worth approximately $2,289,000. THB Asset Management purchased a new stake in Red River Bancshares during the 2nd quarter worth approximately $1,433,000. Finally, ELCO Management Co. LLC purchased a new stake in Red River Bancshares during the 2nd quarter worth approximately $1,043,000. 9.34% of the stock is currently owned by hedge funds and other 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 businesses, professionals, individuals, and public entities in Louisiana. It provides consumer checking accounts, money market accounts, and time deposits; real estate loans, commercial loans, treasury management services; and private banking services, residential mortgage lending, and investment services.

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