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Red River Bancshares (RRBI) Stock Jumps 7.6%: Will It Continue to Soar?
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Red River Bancshares (RRBI - Free Report) shares rallied 7.6% in the last trading session to close at $54.45. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.4% loss over the past four weeks.
The performance of banks is expected to have improved in the second quarter given the higher interest rates and rise in demand for loans. Investors are also bullish on the banking sector on expectations of the interest rate hikes this year. This possibly led to the optimistic stance by the investors, which drove Red River Bancshares higher.
This holding company for Red River Bank is expected to post quarterly earnings of $0.96 per share in its upcoming report, which represents a year-over-year change of -15%. Revenues are expected to be $24.26 million, up 2.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Red River Bancshares, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RRBI going forward to see if this recent jump can turn into more strength down the road.
Red River Bancshares belongs to the Zacks Banks - Southwest industry. Another stock from the same industry, BancFirst (BANF - Free Report) , closed the last trading session 3.6% higher at $94.86. Over the past month, BANF has returned 13.2%.
BancFirst's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.09. Compared to the company's year-ago EPS, this represents a change of -24.8%. BancFirst currently boasts a Zacks Rank of #3 (Hold).
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Red River Bancshares (RRBI) Stock Jumps 7.6%: Will It Continue to Soar?
Red River Bancshares (RRBI - Free Report) shares rallied 7.6% in the last trading session to close at $54.45. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.4% loss over the past four weeks.
The performance of banks is expected to have improved in the second quarter given the higher interest rates and rise in demand for loans. Investors are also bullish on the banking sector on expectations of the interest rate hikes this year. This possibly led to the optimistic stance by the investors, which drove Red River Bancshares higher.
This holding company for Red River Bank is expected to post quarterly earnings of $0.96 per share in its upcoming report, which represents a year-over-year change of -15%. Revenues are expected to be $24.26 million, up 2.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Red River Bancshares, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RRBI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Red River Bancshares belongs to the Zacks Banks - Southwest industry. Another stock from the same industry, BancFirst (BANF - Free Report) , closed the last trading session 3.6% higher at $94.86. Over the past month, BANF has returned 13.2%.
BancFirst's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.09. Compared to the company's year-ago EPS, this represents a change of -24.8%. BancFirst currently boasts a Zacks Rank of #3 (Hold).