Red River Bancshares (NASDAQ:RRBI) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Red River Bancshares (NASDAQ:RRBI) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. The brokerage currently has $49.00 target price on the stock.

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. “

Separately, ValuEngine downgraded Red River Bancshares from a hold rating to a sell rating in a research report on Wednesday, October 2nd.

Shares of NASDAQ RRBI traded down $0.04 during midday trading on Tuesday, hitting $46.00. 500 shares of the company’s stock traded hands, compared to its average volume of 5,884. 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 has a 1 year low of $42.35 and a 1 year high of $58.00. The company has a fifty day moving average price of $43.48.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Tuesday, October 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.09. The firm had revenue of $20.58 million for the quarter, compared to the consensus estimate of $20.57 million. As a group, equities research analysts anticipate that Red River Bancshares will post 3.4 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. bought a new stake in Red River Bancshares in the second quarter worth $132,000. Foundation Resource Management Inc. bought a new stake in Red River Bancshares in the third quarter worth $234,000. EJF Capital LLC bought a new stake in Red River Bancshares in the second quarter worth $616,000. Mendon Capital Advisors Corp bought a new stake in Red River Bancshares in the second quarter worth $1,043,000. Finally, ELCO Management Co. LLC bought a new stake in Red River Bancshares in the second quarter worth $1,043,000. Hedge funds and other institutional investors own 9.34% of the company’s stock.

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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