Red River Bancshares (NASDAQ:RRBI) Stock Rating Lowered by Zacks Investment Research

Red River Bancshares (NASDAQ:RRBI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

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. “

A number of other equities research analysts have also recently weighed in on the company. FIG Partners initiated coverage on Red River Bancshares in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $60.00 price target on the stock. Stephens initiated coverage on Red River Bancshares in a research note on Tuesday, May 28th. They issued an “equal weight” rating and a $54.00 price target on the stock.

RRBI opened at $45.10 on Friday. Red River Bancshares has a 1-year low of $44.85 and a 1-year high of $58.00. The firm has a fifty day simple moving average of $47.38. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.08.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). The company had revenue of $19.75 million during the quarter, compared to analyst estimates of $19.26 million. As a group, equities analysts expect that Red River Bancshares will post 3.36 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. ELCO Management Co. LLC acquired a new position in Red River Bancshares during the 2nd quarter worth approximately $1,043,000. Advisor Group Inc. acquired a new stake in shares of Red River Bancshares in the 2nd quarter valued at approximately $132,000. Maltese Capital Management LLC acquired a new stake in shares of Red River Bancshares in the 2nd quarter valued at approximately $2,907,000. EJF Capital LLC acquired a new stake in shares of Red River Bancshares in the 2nd quarter valued at approximately $616,000. Finally, Castine Capital Management LLC acquired a new stake in shares of Red River Bancshares in the 2nd quarter valued at approximately $2,289,000. Institutional investors and hedge funds own 0.43% of the company’s stock.

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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