Red River Bancshares (NASDAQ:RRBI) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Red River Bancshares (NASDAQ:RRBI) from a sell rating to a hold rating in a report issued on Friday, BidAskClub reports.

Several other analysts also recently issued reports on the company. Stephens upgraded Red River Bancshares from an equal weight rating to an overweight rating in a report on Tuesday, May 12th. Zacks Investment Research downgraded Red River Bancshares from a hold rating to a strong sell rating in a report on Wednesday, June 10th. Finally, ValuEngine downgraded Red River Bancshares from a hold rating to a sell rating in a report on Friday, April 17th.

RRBI opened at $41.84 on Friday. Red River Bancshares has a 52-week low of $29.90 and a 52-week high of $59.00. The company has a 50 day moving average of $40.06 and a two-hundred day moving average of $45.82. The company has a market cap of $323.44 million and a P/E ratio of 12.44. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.02.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Wednesday, April 29th. The company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.10. Red River Bancshares had a net margin of 28.18% and a return on equity of 10.36%. The business had revenue of $20.82 million for the quarter. Research analysts anticipate that Red River Bancshares will post 3.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.24 annualized dividend and a yield of 0.57%. Red River Bancshares’s dividend payout ratio is currently 6.88%.

In other news, Director Teddy Ray Price acquired 5,753 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was bought at an average cost of $37.07 per share, with a total value of $213,263.71. Corporate insiders own 21.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. State Street Corp boosted its position in Red River Bancshares by 22.4% in the 1st quarter. State Street Corp now owns 66,680 shares of the company’s stock valued at $2,482,000 after buying an additional 12,185 shares during the last quarter. Royal Bank of Canada boosted its position in Red River Bancshares by 171.1% in the 1st quarter. Royal Bank of Canada now owns 1,266 shares of the company’s stock valued at $47,000 after buying an additional 799 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Red River Bancshares by 527.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 709 shares of the company’s stock valued at $27,000 after buying an additional 596 shares during the last quarter. Wells Fargo & Company MN boosted its position in Red River Bancshares by 471.0% in the 1st quarter. Wells Fargo & Company MN now owns 3,209 shares of the company’s stock valued at $119,000 after buying an additional 2,647 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Red River Bancshares by 14.7% in the 1st quarter. Geode Capital Management LLC now owns 29,456 shares of the company’s stock valued at $1,096,000 after buying an additional 3,781 shares during the last quarter. 13.93% of the stock is 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 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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