SummerHaven Investment Management LLC Takes Position in Red River Bancshares, Inc. $RRBI

SummerHaven Investment Management LLC bought a new stake in Red River Bancshares, Inc. (NASDAQ:RRBI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,137 shares of the company’s stock, valued at approximately $852,000.

Other large investors also recently made changes to their positions in the company. Strs Ohio acquired a new position in shares of Red River Bancshares during the 1st quarter worth $26,000. Tower Research Capital LLC TRC grew its position in Red River Bancshares by 534.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock valued at $74,000 after purchasing an additional 1,064 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Red River Bancshares during the second quarter valued at approximately $117,000. CWM LLC boosted its stake in shares of Red River Bancshares by 138.4% in the 3rd quarter. CWM LLC now owns 2,010 shares of the company’s stock worth $130,000 after buying an additional 1,167 shares during the last quarter. Finally, Corton Capital Inc. bought a new position in shares of Red River Bancshares during the 2nd quarter valued at approximately $245,000. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Stock Performance

Shares of NASDAQ:RRBI opened at $76.99 on Wednesday. Red River Bancshares, Inc. has a one year low of $46.33 and a one year high of $81.45. The firm’s 50 day simple moving average is $72.71 and its 200-day simple moving average is $67.38. The firm has a market cap of $506.59 million, a PE ratio of 12.77 and a beta of 0.52.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.08. Red River Bancshares had a return on equity of 12.14% and a net margin of 24.44%.The business had revenue of $31.91 million for the quarter, compared to the consensus estimate of $31.28 million. Equities research analysts predict that Red River Bancshares, Inc. will post 5.28 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 8th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, December 8th. Red River Bancshares’s dividend payout ratio (DPR) is 9.95%.

Analyst Ratings Changes

Several research analysts have recently weighed in on RRBI shares. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Red River Bancshares in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Red River Bancshares has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Red River Bancshares 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.