Steel Grove Capital Advisors LLC Invests $391,000 in Red River Bancshares, Inc. $RRBI

Steel Grove Capital Advisors LLC purchased a new position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI) during the fourth quarter, Holdings Channel.com reports. The fund purchased 5,476 shares of the company’s stock, valued at approximately $391,000.

A number of other large investors have also modified their holdings of RRBI. AQR Capital Management LLC grew its stake in shares of Red River Bancshares by 36.3% during the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after acquiring an additional 1,784 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Red River Bancshares by 44.5% during 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 last quarter. Jane Street Group LLC purchased a new stake in shares of Red River Bancshares during the first quarter worth about $315,000. Strs Ohio purchased a new stake in shares of Red River Bancshares during the first quarter worth about $26,000. Finally, Geode Capital Management LLC grew its stake in shares of Red River Bancshares by 3.0% during the second quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock worth $6,527,000 after acquiring an additional 3,196 shares during the last quarter. Hedge funds and other institutional investors own 27.55% of the company’s stock.

Analyst Ratings Changes

RRBI has been the topic of a number of research analyst reports. Raymond James Financial restated a “market perform” rating on shares of Red River Bancshares in a research note on Tuesday, April 7th. Stephens downgraded Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 target price for the company. in a report on Tuesday, May 5th. Finally, Zacks Research downgraded Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $80.50.

Red River Bancshares Stock Up 1.6%

Red River Bancshares stock opened at $92.14 on Wednesday. Red River Bancshares, Inc. has a 52 week low of $54.05 and a 52 week high of $98.85. The company has a market capitalization of $606.74 million, a price-to-earnings ratio of 13.79 and a beta of 0.42. The stock has a 50-day moving average price of $91.47 and a 200 day moving average price of $82.52.

Red River Bancshares (NASDAQ:RRBI) last released its earnings results on Thursday, April 30th. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.12. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%.The firm had revenue of $32.94 million during the quarter, compared to the consensus estimate of $33.03 million. Research analysts anticipate that Red River Bancshares, Inc. will post 7.22 EPS for the current fiscal year.

Red River Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 9th. This is a boost from Red River Bancshares’s previous quarterly dividend of $0.15. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Red River Bancshares’s dividend payout ratio is presently 14.97%.

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.