Red River Bancshares’ (NASDAQ:RRBI) lock-up period will expire on Wednesday, October 30th. Red River Bancshares had issued 600,000 shares in its initial public offering on May 3rd. The total size of the offering was $27,000,000 based on an initial share price of $45.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
RRBI has been the subject of a number of analyst reports. Zacks Investment Research lowered Red River Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. ValuEngine lowered Red River Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd.
Shares of RRBI stock opened at $43.44 on Wednesday. Red River Bancshares has a 52-week low of $42.35 and a 52-week high of $58.00. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $43.17.
Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.10). The business had revenue of $19.75 million during the quarter, compared to analyst estimates of $19.26 million. Analysts expect that Red River Bancshares will post 3.36 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Advisor Group Inc. purchased a new stake in Red River Bancshares in the 2nd quarter worth $132,000. Foundation Resource Management Inc. purchased a new stake in Red River Bancshares in the 3rd quarter worth $234,000. EJF Capital LLC purchased a new stake in Red River Bancshares in the 2nd quarter worth $616,000. Mendon Capital Advisors Corp purchased a new stake in Red River Bancshares in the 2nd quarter worth $1,043,000. Finally, ELCO Management Co. LLC purchased a new stake in Red River Bancshares in the 2nd quarter worth $1,043,000. Institutional investors and hedge funds 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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