Dimensional Fund Advisors LP Raises Stock Holdings in Red River Bancshares, Inc. $RRBI

Key Points

• Dimensional Fund Advisors increased its Red River Bancshares stake by 12.4% in the first quarter, owning 125,314 shares valued at approximately $11.3 million, or 1.9% of the company. Institutional investors collectively hold 27.55% of RRBI.
• Red River Bancshares exceeded quarterly earnings expectations, reporting $1.78 in EPS and $33.73 million in revenue. Analysts maintain a consensus “Hold” rating with an average price target of $106.
• RRBI shares opened at $100.11, near their 12-month high of $103.49. The company also pays a quarterly dividend of $0.25 per share, representing a 1.0% annualized yield.

Dimensional Fund Advisors LP raised its holdings in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) by 12.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,314 shares of the company's stock after purchasing an additional 13,866 shares during the quarter. Dimensional Fund Advisors LP owned 1.90% of Red River Bancshares worth $11,333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Strs Ohio purchased a new position in shares of Red River Bancshares during the 1st quarter valued at approximately $26,000. Clearstead Advisors LLC raised its holdings in Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company's stock valued at $38,000 after acquiring an additional 522 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Red River Bancshares by 258.0% in the fourth 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in Red River Bancshares by 534.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company's stock valued at $74,000 after acquiring an additional 1,064 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Red River Bancshares by 54.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock valued at $105,000 after acquiring 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

RRBI has been the topic of a number of recent analyst reports. Raymond James Financial assumed coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They issued a "market perform" rating on the stock. Weiss Ratings downgraded Red River Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday. Stephens boosted their price objective on Red River Bancshares from $101.00 to $106.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Red River Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $106.00.

Red River Bancshares Stock Performance

Shares of NASDAQ RRBI opened at $100.11 on Monday. Red River Bancshares, Inc. has a 12-month low of $60.99 and a 12-month high of $103.49. The company has a market cap of $658.72 million, a price-to-earnings ratio of 14.40 and a beta of 0.41. The stock's 50 day simple moving average is $94.89 and its 200 day simple moving average is $91.32.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.02. The firm had revenue of $33.73 million during the quarter, compared to the consensus estimate of $33.66 million. Red River Bancshares had a return on equity of 12.65% and a net margin of 26.25%. As a group, equities analysts forecast that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Red River Bancshares's dividend payout ratio is currently 14.39%.

Red River Bancshares 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.

Want to see what other hedge funds are holding RRBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source