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Red River Bancshares director buys $92,460 in company stock

Published 06/14/2024, 12:41 PM

In a recent move that signals confidence in the company, Michael D. Crowell, a director at Red River Bancshares Inc (NASDAQ:RRBI), has purchased additional shares of the company's common stock. The transactions, which occurred on June 12 and 13, 2024, amounted to a total of $92,460.

According to the SEC filings, Crowell acquired 1,000 shares at an average price of $46.15 on the first day, with prices ranging from $45.85 to $46.49. On the following day, another 1,000 shares were bought at an average price of $46.31, with individual trades executed between $45.90 and $46.50. These weighted average prices reflect the aggregation of multiple trades conducted over the range of prices listed.

The recent acquisitions have increased Crowell's direct holdings in Red River Bancshares Inc to a total of 14,330 shares. Additionally, an indirect ownership is noted through RBC Nexgen, LLC, where Mr. Crowell serves as a manager, bringing the total shares owned following the transactions to 17,350. It is important to note that Crowell disclaims beneficial ownership of the indirectly held securities beyond his pecuniary interest.

These recent purchases by a company insider are often viewed by investors as a strong indication of the director's belief in the firm's future performance and stability. The detailed reporting of these transactions provides transparency to shareholders and the market, showcasing the director's vested interest in the financial health of Red River Bancshares Inc.

InvestingPro Insights

The recent insider purchases by Michael D. Crowell at Red River Bancshares Inc (NASDAQ:RRBI) are a significant gesture of confidence in the company’s prospects. To provide further context, let’s delve into some key financial metrics and insights from InvestingPro that could shed light on the company’s current situation and future outlook:

Red River Bancshares Inc is currently operating with a market capitalization of $317.13 million, and its shares are trading at a price-to-earnings (P/E) ratio of 9.68. The adjusted P/E ratio for the last twelve months as of Q1 2024 is slightly lower at 9.4, which could indicate that the company’s earnings are holding steady relative to its share price. Additionally, the price-to-book (P/B) ratio stands at a reasonable 1.05, suggesting that the stock may be reasonably valued in relation to the company’s net assets.

InvestingPro Tips for Red River Bancshares highlight that analysts have recently revised their earnings expectations downwards for the upcoming period. This could be a point of concern for potential investors, as it may reflect anticipated challenges or a conservative outlook for the company's performance. On the flip side, Red River Bancshares has been recognized for its profitability over the last twelve months and analysts predict the company will remain profitable this year, reinforcing the positive sentiment that could be inferred from Crowell's stock purchases.

It’s worth noting that despite these insights, the company has reported a slight revenue decline of -2.17% over the last twelve months as of Q1 2024. Investors looking to explore further InvestingPro Tips can find additional insights for Red River Bancshares Inc, which could provide a more comprehensive analysis of the company's financial health and performance. For those interested in gaining full access to these tips, the use of coupon code PRONEWS24 will secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

To conclude, while the insider buying activity is a positive signal, the mixed financial metrics and analyst revisions present a nuanced picture, suggesting the importance of a thorough evaluation before making investment decisions. For more detailed analysis and tips, investors are encouraged to visit https://www.investing.com/pro/RRBI, which currently lists 4 additional InvestingPro Tips for Red River Bancshares Inc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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