Nuveen LLC Buys New Holdings in Red River Bancshares, Inc. $RRBI

Key Points

• Nuveen LLC has acquired a new stake in Red River Bancshares, purchasing 12,899 shares valued at approximately $666,000, representing about 0.19% ownership.
• Wall Street analysts have a consensus rating of "Buy" for Red River Bancshares, with Raymond James Financial raising its price target to $67.00.
• Red River Bancshares recently declared an increased quarterly dividend of $0.15 per share, with the previous quarter's dividend being $0.12.

Nuveen LLC purchased a new position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,899 shares of the company's stock, valued at approximately $666,000. Nuveen LLC owned 0.19% of Red River Bancshares as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RRBI. Wells Fargo & Company MN lifted its stake in shares of Red River Bancshares by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,695 shares of the company's stock valued at $145,000 after purchasing an additional 587 shares during the last quarter. Barclays PLC grew its position in shares of Red River Bancshares by 14.9% in the 4th quarter. Barclays PLC now owns 6,905 shares of the company's stock valued at $373,000 after acquiring an additional 893 shares during the period. First Trust Advisors LP bought a new stake in Red River Bancshares in the 4th quarter valued at about $223,000. Dimensional Fund Advisors LP raised its position in shares of Red River Bancshares by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 84,557 shares of the company's stock valued at $4,564,000 after buying an additional 5,346 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Red River Bancshares by 138.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,146 shares of the company's stock valued at $62,000 after acquiring an additional 666 shares during the last quarter. Institutional investors own 27.55% of the company's stock.

Wall Street Analysts Forecast Growth

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

Red River Bancshares Price Performance

NASDAQ:RRBI traded up $0.96 during trading hours on Monday, reaching $65.32. The company had a trading volume of 5,187 shares, compared to its average volume of 11,575. The firm has a market cap of $436.30 million, a PE ratio of 11.52 and a beta of 0.53. The business's 50 day moving average price is $63.02 and its 200-day moving average price is $57.09. Red River Bancshares, Inc. has a 1-year low of $46.33 and a 1-year high of $66.50.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.51 earnings per share (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 return on equity of 11.76% and a net margin of 23.62%. On average, analysts expect that Red River Bancshares, Inc. will post 5.28 earnings per share for the current fiscal year.

Red River Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.9%. This is an increase from Red River Bancshares's previous quarterly dividend of $0.12. The ex-dividend date is Monday, September 8th. Red River Bancshares's dividend payout ratio is 8.47%.

Red River Bancshares Profile

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.