Quantbot Technologies LP Purchases Shares of 16,937 Red River Bancshares, Inc. $RRBI

Key Points

• Quantbot Technologies LP acquired 16,937 shares of Red River Bancshares, valued at approximately $1.55 million, giving it a 0.26% stake. Institutional investors collectively own 27.55% of the company.
• Analyst sentiment remains cautious, with one Buy rating and three Hold ratings; the consensus price target is $106. Stephens recently raised its target from $101 to $106.
• Red River Bancshares slightly exceeded quarterly earnings expectations, reporting $1.78 in EPS versus $1.76 expected and $33.73 million in revenue. The company also pays a quarterly dividend of $0.25 per share, representing a 1.0% annualized yield.

Quantbot Technologies LP purchased a new position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,937 shares of the company's stock, valued at approximately $1,546,000. Quantbot Technologies LP owned 0.26% of Red River Bancshares as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Strs Ohio purchased a new stake in shares of Red River Bancshares in the first quarter valued at $26,000. Clearstead Advisors LLC lifted its position in Red River Bancshares by 4,015.4% during the fourth 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. State of Alaska Department of Revenue lifted its position in Red River Bancshares by 258.0% during the fourth quarter. State of Alaska Department of Revenue now owns 945 shares of the company's stock worth $66,000 after buying an additional 681 shares during the period. Tower Research Capital LLC TRC boosted its stake in Red River Bancshares by 534.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company's stock worth $74,000 after buying an additional 1,064 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Red River Bancshares by 54.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock worth $105,000 after buying an additional 571 shares during the last quarter. Institutional investors and hedge funds own 27.55% of the company's stock.

Analysts Set New Price Targets

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

Red River Bancshares Trading Down 0.2%

Shares of Red River Bancshares stock opened at $101.31 on Tuesday. Red River Bancshares, Inc. has a twelve month low of $61.60 and a twelve month high of $104.35. The stock has a market capitalization of $666.62 million, a P/E ratio of 14.58 and a beta of 0.41. The business's fifty day moving average price is $97.24 and its 200 day moving average price is $93.00.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.76 by $0.02. The company had revenue of $33.73 million during the quarter, compared to analyst estimates of $33.66 million. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%. As a group, sell-side analysts predict that Red River Bancshares, Inc. will post 7.26 EPS for the current year.

Red River Bancshares Dividend Announcement

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

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