Acadian Asset Management LLC Boosts Holdings in Red River Bancshares, Inc. $RRBI

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 lifted its holdings in Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) by 27.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 42,351 shares of the company's stock after purchasing an additional 9,111 shares during the period. Acadian Asset Management LLC owned about 0.62% of Red River Bancshares worth $2,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RRBI. Lazard Asset Management LLC acquired a new stake in shares of Red River Bancshares during the fourth quarter worth $106,000. GAMMA Investing LLC lifted its position in Red River Bancshares by 32,611.1% during the 1st quarter. GAMMA Investing LLC now owns 2,944 shares of the company's stock worth $152,000 after buying an additional 2,935 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Red River Bancshares during the 1st quarter worth approximately $269,000. Jane Street Group LLC bought a new position in Red River Bancshares in the first quarter worth approximately $315,000. Finally, Deutsche Bank AG increased its position in shares of Red River Bancshares by 54.5% during the fourth quarter. Deutsche Bank AG now owns 5,980 shares of the company's stock valued at $323,000 after buying an additional 2,110 shares during the period. Institutional investors and hedge funds own 27.55% of the company's stock.

Wall Street Analyst Weigh In

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

Red River Bancshares Stock Down 2.6%

Shares of RRBI stock traded down $1.75 on Friday, hitting $66.12. The stock had a trading volume of 34,003 shares, compared to its average volume of 14,690. The business has a 50 day moving average price of $63.48 and a 200 day moving average price of $57.75. Red River Bancshares, Inc. has a one year low of $46.33 and a one year high of $67.98. The company has a market cap of $441.68 million, a PE ratio of 11.66 and a beta of 0.53.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.08. The company had revenue of $30.09 million for the quarter, compared to analyst estimates of $30.04 million. Red River Bancshares had a net margin of 23.62% and a return on equity of 11.76%. Equities research analysts expect that Red River Bancshares, Inc. will post 5.28 EPS for the current year.

Red River Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Monday, September 8th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. This is a boost from Red River Bancshares's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, September 8th. Red River Bancshares's dividend payout ratio (DPR) is presently 10.58%.

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.