Globeflex Capital L P Purchases New Position in Red River Bancshares, Inc. $RRBI

Globeflex Capital L P purchased a new position in Red River Bancshares, Inc. (NASDAQ:RRBI) in the second quarter, HoldingsChannel reports. The fund purchased 6,960 shares of the company’s stock, valued at approximately $635,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Red River Bancshares in the 2nd quarter worth approximately $35,053,000. Wellington Management Group LLP lifted its stake in shares of Red River Bancshares by 345.1% in the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after purchasing an additional 222,401 shares during the period. Boston Partners bought a new stake in shares of Red River Bancshares during the fourth quarter valued at approximately $4,117,000. First Eagle Investment Management LLC bought a new stake in shares of Red River Bancshares during the fourth quarter valued at approximately $3,528,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Red River Bancshares by 164.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock worth $6,546,000 after purchasing an additional 45,014 shares during the period. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RRBI. Wall Street Zen upgraded Red River Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Stephens boosted their target price on shares of 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 shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, August 19th. Finally, Raymond James Financial started coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They issued a “market perform” rating on the stock. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Red River Bancshares currently has an average rating of “Hold” and an average target price of $106.00.

Red River Bancshares Stock Performance

Shares of NASDAQ RRBI opened at $100.75 on Wednesday. The company has a 50 day simple moving average of $97.47 and a two-hundred day simple moving average of $93.07. Red River Bancshares, Inc. has a fifty-two week low of $61.60 and a fifty-two week high of $104.35. The company has a market capitalization of $662.93 million, a price-to-earnings ratio of 14.50 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.02. The firm had revenue of $33.73 million for the quarter, compared to analysts’ expectations of $33.66 million. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%. On average, analysts forecast that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Red River Bancshares’s payout ratio is presently 14.39%.

About Red River Bancshares

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.