Ieq Capital LLC Invests $492,000 in Red River Bancshares, Inc. $RRBI

Ieq Capital LLC acquired a new stake in Red River Bancshares, Inc. (NASDAQ:RRBI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 5,394 shares of the company’s stock, valued at approximately $492,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strs Ohio bought a new stake in Red River Bancshares during the first quarter worth about $26,000. Clearstead Advisors LLC grew its stake in Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after purchasing an additional 522 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Red River Bancshares by 534.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock worth $74,000 after purchasing an additional 1,064 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Red River Bancshares by 54.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after purchasing an additional 571 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Red River Bancshares during the 2nd quarter worth approximately $117,000. Institutional investors and hedge funds own 27.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RRBI shares. Stephens raised 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 research note on Friday, July 31st. Weiss Ratings raised shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 19th. Raymond James Financial began coverage on shares of Red River Bancshares in a research note on Wednesday, July 1st. They issued a “market perform” rating for the company. Finally, Wall Street Zen raised shares of Red River Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.00.

Red River Bancshares Trading Down 0.7%

Shares of NASDAQ RRBI opened at $100.77 on Friday. Red River Bancshares, Inc. has a 12 month low of $61.60 and a 12 month high of $104.35. The stock has a 50 day moving average of $98.22 and a 200-day moving average of $93.27. The company has a market capitalization of $663.07 million, a P/E ratio of 14.50 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%.The business had revenue of $33.71 million for the quarter, compared to analysts’ expectations of $33.66 million. Analysts predict that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 8th. Red River Bancshares’s payout ratio is currently 14.39%.

Red River Bancshares Company Profile

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.