Red River Bancshares, Inc. (NASDAQ:RRBI) Announces Quarterly Dividend of $0.12

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) announced a quarterly dividend on Thursday, May 22nd, RTT News reports. Investors of record on Friday, June 6th will be paid a dividend of 0.12 per share on Thursday, June 19th. This represents a $0.48 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, June 6th.

Red River Bancshares has raised its dividend payment by an average of 8.7% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Red River Bancshares has a dividend payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Red River Bancshares to earn $5.52 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 8.7%.

Red River Bancshares Stock Performance

Shares of RRBI stock traded down $0.15 on Wednesday, hitting $57.44. The stock had a trading volume of 5,229 shares, compared to its average volume of 9,978. The stock's 50 day moving average is $52.45 and its 200-day moving average is $54.67. The firm has a market capitalization of $389.90 million, a price-to-earnings ratio of 11.58 and a beta of 0.50. Red River Bancshares has a 52-week low of $42.78 and a 52-week high of $62.13.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.23. The firm had revenue of $29.43 million for the quarter, compared to analysts' expectations of $28.24 million. Red River Bancshares had a net margin of 21.71% and a return on equity of 11.04%. Equities analysts expect that Red River Bancshares will post 5.28 earnings per share for the current year.

Analyst Ratings Changes

Separately, Raymond James reaffirmed an "outperform" rating and issued a $62.00 price objective (up previously from $57.00) on shares of Red River Bancshares in a report on Friday, May 2nd.

Institutional Investors Weigh In On Red River Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in shares of Red River Bancshares by 44.5% in the first quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company's stock worth $2,552,000 after buying an additional 15,205 shares during the period. AQR Capital Management LLC increased its stake in Red River Bancshares by 36.3% in the 1st quarter. AQR Capital Management LLC now owns 6,703 shares of the company's stock valued at $346,000 after buying an additional 1,784 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Red River Bancshares in the 1st quarter worth approximately $315,000. 27.55% of the stock is currently owned by institutional investors and hedge funds.

Red River Bancshares Company 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.