Red River Bancshares (NASDAQ:RRBI) Upgraded to B by TheStreet

Red River Bancshares (NASDAQ:RRBIGet Rating) was upgraded by equities research analysts at TheStreet from a “c” rating to a “b” rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.

Separately, Zacks Investment Research lowered shares of Red River Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday.

NASDAQ RRBI opened at $52.25 on Tuesday. The business’s 50-day moving average price is $52.87 and its 200 day moving average price is $52.65. Red River Bancshares has a twelve month low of $46.93 and a twelve month high of $57.73. The company has a market capitalization of $375.16 million, a PE ratio of 11.74 and a beta of 0.76.

Red River Bancshares (NASDAQ:RRBIGet Rating) last released its earnings results on Friday, April 29th. The company reported $1.03 earnings per share 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%. Sell-side analysts predict that Red River Bancshares will post 4.51 EPS for the current fiscal year.

In other news, Director Teddy Ray Price purchased 491 shares of Red River Bancshares stock in a transaction dated Thursday, May 5th. The stock was bought at an average price of $54.00 per share, with a total value of $26,514.00. Following the completion of the acquisition, the director now owns 361,772 shares in the company, valued at approximately $19,535,688. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael D. Crowell purchased 1,000 shares of Red River Bancshares stock in a transaction dated Thursday, March 10th. The shares were purchased 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. Corporate insiders own 22.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Red River Bancshares by 10.6% during the first quarter. The Manufacturers Life Insurance Company now owns 158,102 shares of the company’s stock valued at $8,365,000 after purchasing an additional 15,201 shares in the last quarter. Captrust Financial Advisors bought a new stake in Red River Bancshares in the first quarter worth about $499,000. State Street Corp raised its position in Red River Bancshares by 4.2% in the first quarter. State Street Corp now owns 86,935 shares of the company’s stock worth $4,600,000 after acquiring an additional 3,495 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Red River Bancshares by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,813 shares of the company’s stock worth $626,000 after acquiring an additional 210 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Red River Bancshares by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 29,686 shares of the company’s stock worth $1,570,000 after acquiring an additional 2,608 shares in the last quarter. Institutional investors and hedge funds own 17.85% of the company’s stock.

About Red River Bancshares (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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