First Trust Advisors LP Takes Position in Red River Bancshares, Inc. (NASDAQ:RRBI)

First Trust Advisors LP acquired a new position in Red River Bancshares, Inc. (NASDAQ:RRBI) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,126 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new position in shares of Red River Bancshares during the third quarter valued at approximately $220,000. Barclays PLC boosted its stake in Red River Bancshares by 268.4% in the third quarter. Barclays PLC now owns 6,012 shares of the company’s stock valued at $313,000 after acquiring an additional 4,380 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Red River Bancshares by 133.3% in the third quarter. JPMorgan Chase & Co. now owns 8,763 shares of the company’s stock valued at $456,000 after acquiring an additional 5,007 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Red River Bancshares in the fourth quarter valued at approximately $109,000. Finally, Duncan Williams Asset Management LLC boosted its stake in Red River Bancshares by 20.7% in the fourth quarter. Duncan Williams Asset Management LLC now owns 9,050 shares of the company’s stock valued at $489,000 after acquiring an additional 1,550 shares in the last quarter. 27.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Red River Bancshares Stock Down 1.2%

Shares of NASDAQ RRBI opened at $54.84 on Monday. The company’s 50-day simple moving average is $51.80 and its 200-day simple moving average is $54.51. Red River Bancshares, Inc. has a 52-week low of $42.78 and a 52-week high of $62.13. The firm has a market cap of $371.71 million, a price-to-earnings ratio of 11.06 and a beta of 0.50.

Red River Bancshares (NASDAQ:RRBI) last announced its 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 business had revenue of $29.43 million for 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%. Equities research analysts anticipate that Red River Bancshares, Inc. will post 5.28 EPS for the current fiscal year.

Red River Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.88%. This is a positive change from Red River Bancshares’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, March 10th. Red River Bancshares’s payout ratio is presently 9.02%.

Red River Bancshares 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.