Red River Bancshares price target lowered to $55 from $58 at Stephens

Stephens analyst Matt Olney lowered the firm’s price target on Red River Bancshares to $55 from $58 and keeps an Overweight rating on the shares. The company’s Q3 results were highlighted by robust fees and lower LLP expense, which drove operating EPS to be relatively in-line with consensus, the analyst tells investors. However, NII and NIM headwinds continued as deposit costs remain elevated, which is expected to slow 2024 outlook, the firm adds. Capital levels remain robust and the firm expects additional capital to build in 2024.