Red River Bancshares Inc (NASDAQ:RRBI) Receives Average Rating of “Buy” from Brokerages

Red River Bancshares Inc (NASDAQ:RRBI) has earned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company. Red River Bancshares’ rating score has declined by 100% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Brokerages have set a 1-year consensus target price of $57.00 for the company and are anticipating that the company will post $0.84 earnings per share for the current quarter, according to Zacks. Zacks has also given Red River Bancshares an industry rank of 83 out of 256 based on the ratings given to its competitors.

RRBI has been the subject of a number of research analyst reports. Stephens initiated coverage on Red River Bancshares in a report on Tuesday, May 28th. They issued an “equal weight” rating and a $54.00 target price for the company. FIG Partners initiated coverage on Red River Bancshares in a report on Tuesday, May 21st. They set an “outperform” rating and a $60.00 target price for the company.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRBI. Advisor Group Inc. purchased a new stake in Red River Bancshares in the second quarter valued at $132,000. EJF Capital LLC purchased a new stake in Red River Bancshares in the second quarter valued at $616,000. ELCO Management Co. LLC purchased a new stake in Red River Bancshares in the second quarter valued at $1,043,000. Mendon Capital Advisors Corp purchased a new stake in Red River Bancshares in the second quarter valued at $1,043,000. Finally, RMB Capital Management LLC purchased a new stake in Red River Bancshares in the second quarter valued at $1,360,000. 0.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:RRBI traded down $0.79 during trading on Thursday, reaching $45.10. The stock had a trading volume of 8,300 shares, compared to its average volume of 7,677. Red River Bancshares has a 52 week low of $45.00 and a 52 week high of $58.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average is $47.50.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.10). The company had revenue of $19.75 million for the quarter, compared to analyst estimates of $19.26 million. Research analysts predict that Red River Bancshares will post 3.44 EPS for the current fiscal year.

About Red River Bancshares

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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