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

Red River Bancshares, Inc. (NASDAQ:RRBI - Get Free Report) announced a quarterly dividend on Thursday, May 22nd, RTT News reports. Stockholders of record on Friday, June 6th will be given a dividend of 0.12 per share on Thursday, June 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%.

Red River Bancshares has raised its dividend by an average of 8.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Red River Bancshares has a payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Equities 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

Red River Bancshares stock opened at $55.38 on Friday. The stock has a market cap of $375.92 million, a PE ratio of 11.17 and a beta of 0.50. The stock has a 50-day moving average of $52.29 and a two-hundred day moving average of $54.70. Red River Bancshares has a one year low of $42.78 and a one year high of $62.13.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.29 by $0.23. The firm had revenue of $29.43 million during the quarter, compared to analyst estimates of $28.24 million. Red River Bancshares had a net margin of 21.71% and a return on equity of 11.04%. As a group, sell-side analysts predict that Red River Bancshares will post 5.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Red River Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake 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 acquiring an additional 15,205 shares during the period. Jane Street Group LLC purchased a new stake in shares of Red River Bancshares in the first quarter worth about $315,000. Finally, AQR Capital Management LLC raised its position in Red River Bancshares by 36.3% during the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company's stock valued at $346,000 after acquiring an additional 1,784 shares in the last quarter. Institutional investors and hedge funds own 27.55% of the company's stock.

Wall Street Analyst Weigh In

Separately, Raymond James reiterated an "outperform" rating and set a $62.00 price objective (up from $57.00) on shares of Red River Bancshares in a research note on Friday, May 2nd.

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.

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