Trexquant Investment LP Purchases Shares of 5,210 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 purchased a new position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,210 shares of the company's stock, valued at approximately $269,000. Trexquant Investment LP owned approximately 0.08% of Red River Bancshares at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of Red River Bancshares during the fourth quarter worth about $106,000. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 2,935 shares in the last quarter. Deutsche Bank AG grew its holdings in Red River Bancshares by 54.5% in the fourth quarter. Deutsche Bank AG now owns 5,980 shares of the company's stock valued at $323,000 after purchasing an additional 2,110 shares during the period. Bank of America Corp DE grew its holdings in Red River Bancshares by 19.4% in the fourth quarter. Bank of America Corp DE now owns 8,222 shares of the company's stock valued at $444,000 after purchasing an additional 1,336 shares during the period. Finally, Nuveen LLC purchased a new stake in Red River Bancshares in the first quarter valued at approximately $666,000. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Raymond James Financial restated an "outperform" rating and issued a $67.00 target price (up from $62.00) on shares of Red River Bancshares in a report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $67.00.

Red River Bancshares Price Performance

RRBI stock traded up $0.56 during midday trading on Monday, reaching $65.32. 15,324 shares of the company's stock traded hands, compared to its average volume of 12,008. The company has a market capitalization of $436.34 million, a P/E ratio of 11.52 and a beta of 0.53. Red River Bancshares, Inc. has a fifty-two week low of $46.33 and a fifty-two week high of $66.50. The business has a 50-day moving average price of $63.35 and a two-hundred day moving average price of $57.48.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $30.09 million for the quarter, compared to analysts' expectations of $30.04 million. Red River Bancshares had a net margin of 23.62% and a return on equity of 11.76%. As a group, research analysts forecast that Red River Bancshares, Inc. will post 5.28 earnings per share for the current fiscal year.

Red River Bancshares Increases Dividend

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

Red River Bancshares Profile

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.