Sei Investments Co. Makes New $1.63 Million Investment in Red River Bancshares, Inc. $RRBI

Key Points

• Sei Investments Co. acquired a new $1.63 million stake in Red River Bancshares during the first quarter, purchasing 17,985 shares. Institutional investors collectively own 27.55% of the company.
• Analyst sentiment remains cautious: one analyst rates RRBI a Buy and three rate it Hold, producing a consensus rating of Hold and an average price target of $106.
• Red River Bancshares reported quarterly EPS of $1.78, exceeding estimates of $1.76, while revenue reached $33.73 million. The company also maintains a quarterly dividend of $0.25, equivalent to a 1.0% annual yield.

Sei Investments Co. bought a new stake in Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 17,985 shares of the company's stock, valued at approximately $1,627,000. Sei Investments Co. owned about 0.27% of Red River Bancshares at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its stake in shares of Red River Bancshares by 2.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company's stock valued at $670,000 after buying an additional 200 shares in the last quarter. NewEdge Advisors LLC raised its position in Red River Bancshares by 5.8% in the third quarter. NewEdge Advisors LLC now owns 5,419 shares of the company's stock worth $351,000 after acquiring an additional 296 shares in the last quarter. State Street Corp lifted its holdings in Red River Bancshares by 0.4% in the fourth quarter. State Street Corp now owns 99,742 shares of the company's stock valued at $7,125,000 after acquiring an additional 404 shares during the period. Strs Ohio acquired a new stake in Red River Bancshares in the first quarter valued at $26,000. Finally, Clearstead Advisors LLC lifted 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 during the period. Institutional investors and hedge funds own 27.55% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RRBI. Wall Street Zen raised Red River Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday. Stephens raised their price target on Red River Bancshares from $101.00 to $106.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Weiss Ratings downgraded Red River Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Finally, Raymond James Financial initiated coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They issued a "market perform" rating on the stock. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $106.00.

Red River Bancshares Trading Up 0.6%

NASDAQ RRBI opened at $100.68 on Tuesday. The business's 50-day moving average price is $95.09 and its 200 day moving average price is $91.49. Red River Bancshares, Inc. has a twelve month low of $60.99 and a twelve month high of $103.49. The company has a market capitalization of $662.47 million, a PE ratio of 14.49 and a beta of 0.41.

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

Red River Bancshares Dividend Announcement

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