Arrowstreet Capital Limited Partnership Boosts Stake in Red River Bancshares, Inc. $RRBI

Key Points

• Arrowstreet Capital increased its Red River Bancshares stake by 164.5% in the first quarter, owning 72,375 shares worth approximately $6.5 million, or 1.1% of the company. Institutional investors collectively hold 27.55% of RRBI.
• Red River Bancshares reported quarterly EPS of $1.78, slightly exceeding the $1.76 consensus estimate, while revenue of $33.70 million also topped expectations. The company maintains a quarterly dividend of $0.25, representing a 1.0% annualized yield.
• Analyst sentiment remains generally neutral, with a consensus “Hold” rating and a $106 price target. RRBI opened at $100.55, near its 52-week high of $103.49.

Arrowstreet Capital Limited Partnership grew its stake in Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) by 164.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,375 shares of the company's stock after acquiring an additional 45,014 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.10% of Red River Bancshares worth $6,546,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Strs Ohio purchased a new position in Red River Bancshares during the 1st quarter worth approximately $26,000. Clearstead Advisors LLC boosted its holdings in shares of Red River Bancshares by 4,015.4% in the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company's stock valued at $38,000 after acquiring an additional 522 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Red River Bancshares by 258.0% in the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company's stock valued at $66,000 after acquiring an additional 681 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Red River Bancshares by 534.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company's stock worth $74,000 after acquiring an additional 1,064 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Red River Bancshares by 54.6% during the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock worth $105,000 after purchasing an additional 571 shares during the last quarter. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on RRBI. Raymond James Financial began coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They issued a "market perform" rating on the stock. Wall Street Zen lowered Red River Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday. Weiss Ratings raised Red River Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, July 21st. Finally, Stephens upped their target price on Red River Bancshares from $101.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Friday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Red River Bancshares currently has a consensus rating of "Hold" and a consensus price target of $106.00.

Red River Bancshares Stock Performance

RRBI opened at $100.55 on Monday. Red River Bancshares, Inc. has a fifty-two week low of $58.67 and a fifty-two week high of $103.49. The company has a fifty day moving average of $93.93 and a two-hundred day moving average of $90.37. The stock has a market capitalization of $662.12 million, a price-to-earnings ratio of 14.47 and a beta of 0.42.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.02. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.65%. The business had revenue of $33.70 million for the quarter, compared to analyst estimates of $33.66 million. On average, equities research analysts forecast that Red River Bancshares, Inc. will post 7.26 earnings per share for the current year.

Red River Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Red River Bancshares's dividend payout ratio is presently 14.39%.

About Red River Bancshares

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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