Renaissance Technologies LLC Lowers Stock Position in Red River Bancshares, Inc. $RRBI

Key Points

• Renaissance Technologies cut its Red River Bancshares stake by 73.1% in the first quarter, selling 12,501 shares and retaining 4,600 shares worth approximately $416,000. Institutional investors collectively own 27.55% of RRBI.
• RRBI recently traded at $101.81, near its 12-month high of $104.35. The bank exceeded quarterly expectations with EPS of $1.78 and revenue of $33.73 million, while analysts project $7.26 in full-year EPS.
• Red River Bancshares maintains a quarterly dividend of $0.25, equivalent to a 1.0% annual yield. Analysts’ consensus rating is “Hold,” with an average price target of $106.00.

Renaissance Technologies LLC lessened its position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) by 73.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,600 shares of the company's stock after selling 12,501 shares during the quarter. Renaissance Technologies LLC owned approximately 0.07% of Red River Bancshares worth $416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Red River Bancshares in the first quarter worth about $26,000. Clearstead Advisors LLC increased its stake in shares of Red River Bancshares by 4,015.4% in the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company's stock valued at $38,000 after purchasing an additional 522 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Red River Bancshares by 258.0% in the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company's stock valued at $66,000 after purchasing an additional 681 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings 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 purchasing an additional 1,064 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Red River Bancshares by 54.6% during the third quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock worth $105,000 after purchasing an additional 571 shares in the last quarter. Hedge funds and other institutional investors own 27.55% of the company's stock.

Red River Bancshares Trading Down 0.6%

RRBI stock opened at $101.81 on Wednesday. Red River Bancshares, Inc. has a 12-month low of $61.25 and a 12-month high of $104.35. The stock has a market cap of $669.91 million, a price-to-earnings ratio of 14.65 and a beta of 0.41. The business's 50-day moving average is $96.51 and its 200 day moving average is $92.54.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its 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. The business had revenue of $33.73 million during the quarter, compared to analysts' expectations 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, equities analysts forecast that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings cut Red River Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Raymond James Financial started coverage on Red River Bancshares in a research report on Wednesday, July 1st. They set a "market perform" rating on the stock. 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 note on Friday, July 31st. Finally, Wall Street Zen raised shares of Red River Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $106.00.

About Red River Bancshares

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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