Red River Bancshares (NASDAQ:RRBI – Get a rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released Wednesday, Zacks.com reports.

According to Zacks, “Red River Bancshares Inc. is the bank holding company of 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, term deposits, home loans, commercial loans, cash management services and private banking, residential mortgages and investment services. Red River Bancshares Inc. is headquartered in Alexandria, Louisiana.”

Separately, TheStreet downgraded Red River Bancshares from a “b” rating to a “c” rating in a Wednesday, April 20 research note.

The NASDAQ RRBI opened at $51.35 on Wednesday. The company’s fifty-day simple moving average is $52.87 and its two-hundred-day simple moving average is $52.65. The company has a market capitalization of $368.49 million, a P/E ratio of 11.54 and a beta of 0.75. Red River Bancshares has a 12-month low of $46.93 and a 12-month high of $57.73.

Red River Bancshares (NASDAQ:RRBI – Get Rating) last announced its results on Friday, April 29. The company reported earnings per share of $1.03 for the quarter, beating the consensus estimate of $1.00 by $0.03. Red River Bancshares had a return on equity of 11.18% and a net margin of 32.19%. On average, analysts expect Red River Bancshares to post an EPS of 4.51 for the current year.

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Separately, director Michael D. Crowell purchased 1,000 shares of the company in a trade dated Thursday, March 10. The shares were acquired at an average price of $48.74 per share, with a total value of $48,740.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, director Teddy Ray Price purchased 491 shares of the company in a trade that took place on Thursday, May 5. The stock was purchased at an average price of $54.00 per share, for a total transaction of $26,514.00. Following the completion of the purchase, the administrator now directly owns 361,772 shares of the company, valued at approximately $19,535,688. Disclosure of this purchase can be found here. 22.50% of the shares are currently held by company insiders.

Several institutional investors have recently changed their positions in the company. Acadian Asset Management LLC increased its holdings of shares of Red River Bancshares by 43.0% during the fourth quarter. Acadian Asset Management LLC now owns 2,580 shares of the company worth $137,000 after purchasing an additional 776 shares in the last quarter. Citigroup Inc. increased its position in Red River Bancshares by 141.9% during the third quarter. Citigroup Inc. now owns 520 shares of the company worth $26,000 after buying 305 more shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Red River Bancshares by 10.3% during the third quarter. Dimensional Fund Advisors LP now owns 27,297 shares of the company worth $1,361,000 after purchasing an additional 2,540 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Red River Bancshares by 110.8% in the third quarter. BNP Paribas Arbitrage SA now owns 1,206 shares in the company valued at $60,000 after buying an additional 634 shares last quarter. Finally, Martingale Asset Management LP acquired a new equity stake in Red River Bancshares in Q1 worth $281,000. 17.85% of the shares are held by institutional investors and hedge funds.

Red River Bancshares Company Profile (Get a rating)

Red River Bancshares, Inc operates as a bank holding company for Red River Bank which provides banking products and services to commercial and retail customers in Louisiana. The Company offers various deposit products, including checking, savings accounts, money market accounts and term deposits. It also offers commercial real estate loans; one to four family mortgages 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; housing mortgages; and lines of credit and stand-by letters of credit.

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