Millennium Management LLC Boosts Holdings in Red River Bancshares, Inc. (NASDAQ:RRBI)

Millennium Management LLC boosted its stake in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) by 50.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,883 shares of the company's stock after buying an additional 7,334 shares during the period. Millennium Management LLC owned 0.32% of Red River Bancshares worth $1,181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of Red River Bancshares by 138.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,146 shares of the company's stock worth $62,000 after acquiring an additional 666 shares during the period. Lazard Asset Management LLC acquired a new stake in Red River Bancshares during the fourth quarter worth about $106,000. SG Americas Securities LLC purchased a new position in Red River Bancshares during the fourth quarter worth about $109,000. Wells Fargo & Company MN raised its stake in Red River Bancshares by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,695 shares of the company's stock worth $145,000 after purchasing an additional 587 shares during the period. Finally, Globeflex Capital L P boosted its holdings in Red River Bancshares by 195.7% in the 4th quarter. Globeflex Capital L P now owns 2,871 shares of the company's stock valued at $155,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 27.55% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James restated an "outperform" rating and set a $62.00 price target (up previously from $57.00) on shares of Red River Bancshares in a report on Friday, May 2nd.

Red River Bancshares Trading Up 0.8%

RRBI stock traded up $0.45 during midday trading on Friday, hitting $56.00. 8,579 shares of the company's stock were exchanged, compared to its average volume of 10,075. The stock has a market capitalization of $380.13 million, a PE ratio of 11.29 and a beta of 0.50. Red River Bancshares, Inc. has a 1-year low of $42.78 and a 1-year high of $62.13. The business has a 50-day simple moving average of $53.08 and a two-hundred day simple moving average of $54.59.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.23. Red River Bancshares had a net margin of 21.71% and a return on equity of 11.04%. The business had revenue of $29.43 million for the quarter, compared to analysts' expectations of $28.24 million. As a group, research analysts expect that Red River Bancshares, Inc. will post 5.28 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, June 19th. Investors of record on Friday, June 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, June 6th. Red River Bancshares's dividend payout ratio (DPR) is presently 9.02%.

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.