Red River Bancshares (NASDAQ:RRBI) Upgraded at Zacks Investment Research

Red River Bancshares (NASDAQ:RRBIGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $58.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 13.93% from the company’s previous close.

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, TheStreet lowered Red River Bancshares from a “b” rating to a “c” rating in a research report on Wednesday, April 20th.

RRBI opened at $50.91 on Wednesday. The stock has a 50-day moving average price of $52.99 and a 200-day moving average price of $52.70. The firm has a market cap of $365.33 million, a PE ratio of 11.44 and a beta of 0.75. Red River Bancshares has a 1 year low of $46.93 and a 1 year high of $57.73.

Red River Bancshares (NASDAQ:RRBIGet Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.03. Red River Bancshares had a return on equity of 11.18% and a net margin of 32.19%. As a group, equities analysts anticipate that Red River Bancshares will post 4.29 EPS for the current fiscal year.

In other Red River Bancshares news, Director Teddy Ray Price bought 491 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was acquired at an average price of $54.00 per share, with a total value of $26,514.00. Following the transaction, the director now owns 361,772 shares in the company, valued at $19,535,688. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael D. Crowell bought 1,000 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was acquired at an average cost of $48.74 per share, with a total value of $48,740.00. The disclosure for this purchase can be found here. 22.50% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in RRBI. The Manufacturers Life Insurance Company grew its stake in shares of Red River Bancshares by 75.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 142,901 shares of the company’s stock valued at $7,645,000 after purchasing an additional 61,233 shares during the period. Alliancebernstein L.P. grew its stake in shares of Red River Bancshares by 42.9% during the 3rd quarter. Alliancebernstein L.P. now owns 107,634 shares of the company’s stock valued at $5,366,000 after purchasing an additional 32,322 shares during the period. FJ Capital Management LLC bought a new stake in shares of Red River Bancshares during the 1st quarter valued at about $1,436,000. Renaissance Technologies LLC bought a new stake in shares of Red River Bancshares during the 4th quarter valued at about $576,000. Finally, Captrust Financial Advisors bought a new stake in shares of Red River Bancshares during the 1st quarter valued at about $499,000. Institutional investors and hedge funds own 17.85% of the company’s stock.

Red River Bancshares Company Profile (Get Rating)

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It also offers commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit.

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