Trexquant Investment LP Makes New Investment in Red River Bancshares, Inc. $RRBI

Key Points

• Trexquant Investment LP has acquired a new stake in Red River Bancshares, purchasing 5,210 shares valued at approximately $269,000 during the first quarter.
• Red River Bancshares recently declared an increase in its quarterly dividend from $0.12 to $0.15 per share, which will be paid on September 18th.
• Wall Street analysts have a positive outlook on the stock, with Raymond James setting a target price of $67.00, indicating confidence in the company's growth potential.

Trexquant Investment LP bought a new stake in Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,210 shares of the company's stock, valued at approximately $269,000. Trexquant Investment LP owned approximately 0.08% of Red River Bancshares as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RRBI. GAMMA Investing LLC raised its holdings in Red River Bancshares by 32,611.1% during the first quarter. GAMMA Investing LLC now owns 2,944 shares of the company's stock worth $152,000 after purchasing an additional 2,935 shares in the last quarter. Bank of America Corp DE raised its holdings in Red River Bancshares by 19.4% during the fourth quarter. Bank of America Corp DE now owns 8,222 shares of the company's stock worth $444,000 after purchasing an additional 1,336 shares in the last quarter. Millennium Management LLC raised its holdings in Red River Bancshares by 50.4% during the fourth quarter. Millennium Management LLC now owns 21,883 shares of the company's stock worth $1,181,000 after purchasing an additional 7,334 shares in the last quarter. Deutsche Bank AG raised its holdings in Red River Bancshares by 54.5% during the fourth quarter. Deutsche Bank AG now owns 5,980 shares of the company's stock worth $323,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in Red River Bancshares by 40.6% during the fourth quarter. Citadel Advisors LLC now owns 18,630 shares of the company's stock worth $1,006,000 after purchasing an additional 5,381 shares in the last quarter. Institutional investors and hedge funds own 27.55% of the company's stock.

Red River Bancshares Price Performance

Shares of RRBI traded down $0.45 during mid-day trading on Friday, reaching $64.76. 6,393 shares of the company's stock were exchanged, compared to its average volume of 12,058. The stock has a market capitalization of $432.40 million, a PE ratio of 11.42 and a beta of 0.53. The business's fifty day simple moving average is $63.29 and its 200-day simple moving average is $57.39. Red River Bancshares, Inc. has a 52-week low of $46.33 and a 52-week high of $66.50.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.08. Red River Bancshares had a net margin of 23.62% and a return on equity of 11.76%. The firm had revenue of $30.09 million for the quarter, compared to analyst estimates of $30.04 million. Equities research analysts predict that Red River Bancshares, Inc. will post 5.28 earnings per share for the current year.

Red River Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Monday, September 8th will be given a $0.15 dividend. This is a positive change from Red River Bancshares's previous quarterly dividend of $0.12. The ex-dividend date is Monday, September 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. Red River Bancshares's payout ratio is 10.58%.

Wall Street Analysts Forecast Growth

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

About Red River Bancshares

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.