Red River Bancshares, Inc. $RRBI Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Red River Bancshares by 27.4%, acquiring a total of 42,351 shares valued at approximately $2.18 million.
• Red River Bancshares reported earnings per share of $1.51 in its latest quarterly earnings, exceeding analyst expectations of $1.43.
• The company announced a quarterly dividend increase to $0.15 per share, with a payout ratio of 10.58%, reflecting its commitment to returning value to shareholders.

Acadian Asset Management LLC raised its stake in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) by 27.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,351 shares of the company's stock after acquiring an additional 9,111 shares during the period. Acadian Asset Management LLC owned approximately 0.62% of Red River Bancshares worth $2,184,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of 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. Northern Trust Corp increased its position in shares of Red River Bancshares by 2.9% during the fourth quarter. Northern Trust Corp now owns 38,831 shares of the company's stock valued at $2,096,000 after acquiring an additional 1,087 shares during the last quarter. Millennium Management LLC increased its position in shares of Red River Bancshares by 50.4% during the fourth quarter. Millennium Management LLC now owns 21,883 shares of the company's stock valued at $1,181,000 after acquiring an additional 7,334 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Red River Bancshares by 2.4% during the first quarter. Bank of New York Mellon Corp now owns 21,839 shares of the company's stock valued at $1,128,000 after acquiring an additional 518 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Red River Bancshares by 6.6% during the first quarter. Russell Investments Group Ltd. now owns 19,684 shares of the company's stock valued at $1,017,000 after acquiring an additional 1,219 shares during the last quarter. 27.55% of the stock is currently owned by institutional investors and hedge funds.

Red River Bancshares Price Performance

Shares of RRBI stock traded down $2.11 during trading on Friday, reaching $65.77. The company's stock had a trading volume of 13,315 shares, compared to its average volume of 11,852. The company has a market capitalization of $439.11 million, a price-to-earnings ratio of 11.60 and a beta of 0.53. The stock's 50-day moving average price is $63.44 and its 200 day moving average price is $57.67. Red River Bancshares, Inc. has a 1-year low of $46.33 and a 1-year high of $67.98.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.08. Red River Bancshares had a net margin of 23.62% and a return on equity of 11.76%. The firm had revenue of $30.09 million during the quarter, compared to analysts' expectations of $30.04 million. On average, sell-side analysts anticipate 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, September 18th. Shareholders of record on Monday, September 8th were issued a dividend of $0.15 per share. This is a boost from Red River Bancshares's previous quarterly dividend of $0.12. The ex-dividend date was Monday, September 8th. This represents a $0.60 annualized dividend and a yield of 0.9%. Red River Bancshares's dividend payout ratio (DPR) is presently 10.58%.

Analyst Ratings Changes

Separately, Raymond James Financial reiterated an "outperform" rating and set a $67.00 price target (up from $62.00) on shares of Red River Bancshares in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $67.00.

About Red River Bancshares

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.