Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Red River Bancshares, Inc. $RRBI

Key Points

• Connor Clark & Lunn Investment Management acquired 17,608 shares of Red River Bancshares worth approximately $1.61 million, representing about 0.27% of the company. Institutional investors collectively own 27.55% of RRBI.
• Analysts maintain a generally cautious outlook, with one Buy rating and three Hold ratings; the consensus price target is $106, compared with the stock’s recent price of $100.77.
• Red River Bancshares exceeded quarterly earnings expectations, reporting $1.78 in EPS and $33.71 million in revenue, and declared a quarterly dividend of $0.25 per share, equal to a 1.0% annualized yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,608 shares of the company's stock, valued at approximately $1,607,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.27% of Red River Bancshares at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Red River Bancshares in the 1st quarter valued at about $26,000. Clearstead Advisors LLC raised its stake in Red River Bancshares by 4,015.4% during the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company's stock worth $38,000 after buying an additional 522 shares during the period. Tower Research Capital LLC TRC boosted its holdings in 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 in the last quarter. BNP Paribas Financial Markets boosted its holdings in Red River Bancshares by 54.6% in the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock worth $105,000 after acquiring an additional 571 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Red River Bancshares in the second quarter valued at approximately $117,000. Institutional investors and hedge funds own 27.55% of the company's stock.

Analyst Ratings Changes

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

Red River Bancshares Stock Down 0.7%

Shares of NASDAQ RRBI opened at $100.77 on Friday. The company has a market capitalization of $663.07 million, a PE ratio of 14.50 and a beta of 0.41. The stock's 50 day moving average price is $98.22 and its 200-day moving average price is $93.27. Red River Bancshares, Inc. has a twelve month low of $61.60 and a twelve month high of $104.35.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.78 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $33.71 million during the quarter, compared to the consensus estimate of $33.66 million. As a group, research analysts expect that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

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

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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