Red River Bancshares (NASDAQ:RRBI) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Red River Bancshares (NASDAQ:RRBI) from a hold rating to a sell rating in a research note published on Tuesday morning, 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 brokerages have also issued reports on RRBI. Stephens assumed coverage on Red River Bancshares in a research note on Tuesday, May 28th. They issued an equal weight rating and a $54.00 target price for the company. FIG Partners assumed coverage on Red River Bancshares in a research note on Tuesday, May 21st. They issued an outperform rating and a $60.00 target price for the company.



Shares of RRBI opened at $43.06 on Tuesday. Red River Bancshares has a 12 month low of $42.35 and a 12 month high of $58.00. The firm’s fifty day simple moving average is $44.66. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.04.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.10). The firm had revenue of $19.75 million during the quarter, compared to analysts’ expectations of $19.26 million. Analysts forecast that Red River Bancshares will post 3.36 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of RRBI. Maltese Capital Management LLC purchased a new position in Red River Bancshares in the 2nd quarter worth $2,907,000. Castine Capital Management LLC purchased a new position in Red River Bancshares in the 2nd quarter worth $2,289,000. Banc Funds Co. LLC purchased a new position in Red River Bancshares in the 2nd quarter worth $1,615,000. BlackRock Inc. purchased a new position in Red River Bancshares in the 2nd quarter worth $1,552,000. Finally, THB Asset Management purchased a new position in Red River Bancshares in the 2nd quarter worth $1,433,000. Institutional investors own 9.26% 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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