Red River Bancshares price target raised to $62 from $57 at Raymond James

Raymond James raised the firm’s price target on Red River Bancshares (RRBI) to $62 from $57 and keeps an Outperform rating on the shares. Red River’s Q1 results exceeded consensus estimates on both a core EPS and pre-provision net revenue basis, with upside that was broad-based and reflected net interest margin expansion, the analyst tells investors in a research note. The firm raised its EPS estimates to reflect stronger net interest income vs. its prior model, which is partially offset by higher noninterest expenses.