384,012 Shares in Red River Bancshares, Inc. $RRBI Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 384,012 shares of Red River Bancshares during the second quarter, worth approximately $35.1 million and representing about 5.84% of the company. Institutional investors collectively own 27.55% of RRBI.
• Red River Bancshares exceeded quarterly expectations, reporting EPS of $1.78 versus the $1.76 consensus estimate and revenue of $33.71 million. Analysts expect full-year EPS of $7.26.
• The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 1.0% yield. Analysts maintain a consensus “Hold” rating with a $106 target price.

BlackRock Inc. bought a new stake in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 384,012 shares of the company's stock, valued at approximately $35,053,000. BlackRock Inc. owned approximately 5.84% of Red River Bancshares at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Red River Bancshares by 36.3% in the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company's stock worth $346,000 after purchasing an additional 1,784 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Red River Bancshares by 44.5% during the first quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company's stock valued at $2,552,000 after acquiring an additional 15,205 shares during the last quarter. Jane Street Group LLC acquired a new stake in Red River Bancshares in the first quarter valued at approximately $315,000. Strs Ohio purchased a new position in Red River Bancshares in the first quarter worth $26,000. Finally, Geode Capital Management LLC boosted its position in shares of Red River Bancshares by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 111,163 shares of the company's stock worth $6,527,000 after purchasing an additional 3,196 shares in the last quarter. Institutional investors own 27.55% of the company's stock.

Red River Bancshares Stock Performance

NASDAQ:RRBI opened at $100.15 on Wednesday. The firm's fifty day moving average is $98.64 and its two-hundred day moving average is $93.44. The firm has a market cap of $658.99 million, a price-to-earnings ratio of 14.41 and a beta of 0.41. Red River Bancshares, Inc. has a one year low of $61.60 and a one year high of $104.35.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.02. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%.The business had revenue of $33.71 million during the quarter, compared to analysts' expectations of $33.66 million. As a group, equities research analysts predict that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Red River Bancshares's payout ratio is presently 14.39%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RRBI shares. Weiss Ratings raised Red River Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, August 19th. Stephens boosted their target price on shares of Red River Bancshares from $101.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Raymond James Financial initiated coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They set a "market perform" rating on the stock. Finally, Wall Street Zen raised shares of Red River Bancshares from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $106.00.

Red River Bancshares Company Profile

Red River Bancshares, Inc is a bank holding company headquartered in Alexandria, Louisiana, operating through its principal subsidiary, Red River Bank. Established in 1998, the company provides a full range of commercial banking services designed to meet the needs of individuals, small to mid-size businesses, and nonprofit organizations. Red River Bank has built its reputation on personalized customer service and a commitment to supporting economic growth within its service area.

The company's core offerings include commercial and industrial lending, real estate financing, consumer and residential mortgage loans, and deposit products such as checking, savings, money market accounts and certificates of deposit.

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