Raymond James Begins Coverage on Red River Bancshares (NASDAQ:RRBI)

Equities researchers at Raymond James began coverage on shares of Red River Bancshares (NASDAQ:RRBI) in a research note issued on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $57.00 price target on the stock. Raymond James’ price objective indicates a potential upside of 9.78% from the stock’s previous close.

Red River Bancshares Stock Performance

RRBI stock opened at $51.92 on Tuesday. The firm has a market cap of $351.91 million, a PE ratio of 10.47 and a beta of 0.47. Red River Bancshares has a fifty-two week low of $42.78 and a fifty-two week high of $62.13. The firm has a fifty day moving average price of $54.11 and a 200 day moving average price of $54.41.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.23 by $0.14. Red River Bancshares had a net margin of 21.71% and a return on equity of 11.04%. On average, equities analysts predict that Red River Bancshares will post 5.28 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RRBI. Tower Research Capital LLC TRC grew its stake in Red River Bancshares by 138.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,146 shares of the company’s stock valued at $62,000 after purchasing an additional 666 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Red River Bancshares in the 4th quarter worth approximately $106,000. SG Americas Securities LLC bought a new position in shares of Red River Bancshares during the 4th quarter worth approximately $109,000. FMR LLC lifted its position in Red River Bancshares by 140.5% during the third quarter. FMR LLC now owns 2,128 shares of the company’s stock valued at $111,000 after acquiring an additional 1,243 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Red River Bancshares by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,695 shares of the company’s stock valued at $145,000 after acquiring an additional 587 shares during the last quarter. 27.55% 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 commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It 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.