Alliancebernstein L.P. Sells 7,632 Shares of Red River Bancshares, Inc. (NASDAQ:RRBI)

Alliancebernstein L.P. cut its holdings in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,238 shares of the company's stock after selling 7,632 shares during the quarter. Alliancebernstein L.P. owned 0.71% of Red River Bancshares worth $2,604,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RRBI. Charles Schwab Investment Management Inc. raised its position in Red River Bancshares by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,043 shares of the company's stock worth $678,000 after purchasing an additional 349 shares during the period. FMR LLC increased its holdings in shares of Red River Bancshares by 140.5% in the third quarter. FMR LLC now owns 2,128 shares of the company's stock worth $111,000 after buying an additional 1,243 shares during the period. State Street Corp increased its holdings in shares of Red River Bancshares by 1.1% in the third quarter. State Street Corp now owns 95,219 shares of the company's stock worth $4,951,000 after buying an additional 993 shares during the period. Jane Street Group LLC bought a new stake in shares of Red River Bancshares in the 3rd quarter valued at about $220,000. Finally, Barclays PLC boosted its holdings in Red River Bancshares by 268.4% during the 3rd quarter. Barclays PLC now owns 6,012 shares of the company's stock valued at $313,000 after acquiring an additional 4,380 shares during the period. 27.55% of the stock is currently owned by institutional investors.

Red River Bancshares Price Performance

RRBI traded up $0.27 during trading on Friday, hitting $49.91. 6,750 shares of the stock traded hands, compared to its average volume of 9,840. The firm has a market capitalization of $338.29 million, a P/E ratio of 10.06 and a beta of 0.47. Red River Bancshares, Inc. has a 12-month low of $42.78 and a 12-month high of $62.13. The firm has a 50-day moving average of $52.87 and a 200 day moving average of $54.34.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.14. Red River Bancshares had a return on equity of 11.04% and a net margin of 21.71%. As a group, equities analysts predict that Red River Bancshares, Inc. will post 5.28 EPS for the current fiscal year.

Red River Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Red River Bancshares's previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a dividend yield of 0.96%. Red River Bancshares's payout ratio is currently 9.68%.

Analysts Set New Price Targets

Separately, Raymond James started coverage on Red River Bancshares in a research report on Tuesday, April 8th. They issued an "outperform" rating and a $57.00 price objective for the company.

Red River Bancshares Company Profile

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It offers commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit.