The Manufacturers Life Insurance Company Acquires Shares of 132,333 Red River Bancshares, Inc. $RRBI

Key Points

• The Manufacturers Life Insurance Company acquired 132,333 shares of Red River Bancshares, valued at approximately $12.1 million, giving it a 2.01% stake. Institutional investors and hedge funds collectively own 27.55% of the company.
• Red River Bancshares reported quarterly EPS of $1.78, exceeding analyst expectations of $1.76, while revenue reached $33.71 million. The company also declared a quarterly dividend of $0.25, equivalent to a 1.0% annual yield.
• Analyst sentiment remains generally neutral, with one Buy rating and three Hold ratings. The stock has a consensus rating of Hold and an average price target of $106, compared with a recent price of $100.77.

The Manufacturers Life Insurance Company bought a new position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 132,333 shares of the company's stock, valued at approximately $12,079,000. The Manufacturers Life Insurance Company owned approximately 2.01% of Red River Bancshares as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Strs Ohio purchased a new position in shares of Red River Bancshares in the first quarter worth about $26,000. Clearstead Advisors LLC boosted 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 acquiring an additional 522 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Red River Bancshares by 534.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company's stock valued at $74,000 after acquiring an additional 1,064 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Red River Bancshares by 54.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company's stock valued at $105,000 after acquiring an additional 571 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Red River Bancshares in the 2nd quarter valued at about $117,000. 27.55% of the stock is currently owned by institutional investors and hedge funds.

Red River Bancshares Price Performance

Red River Bancshares stock opened at $100.77 on Friday. The firm has a 50 day simple moving average of $98.22 and a 200-day simple moving average of $93.27. Red River Bancshares, Inc. has a 1-year low of $61.60 and a 1-year high of $104.35. The stock has a market cap of $663.07 million, a price-to-earnings ratio of 14.50 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.02. The business had revenue of $33.71 million during the quarter, compared to the consensus estimate of $33.66 million. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.47%. Equities analysts expect that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 8th. Red River Bancshares's payout ratio is 14.39%.

Analyst Ratings Changes

A number of research analysts have weighed in on RRBI shares. Raymond James Financial began coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They issued a "market perform" rating on the stock. Stephens increased their price target on Red River Bancshares from $101.00 to $106.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Weiss Ratings upgraded Red River Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, August 19th. Finally, Wall Street Zen raised Red River Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $106.00.

Red River Bancshares Company 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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