The Manufacturers Life Insurance Company Purchases Shares of 132,333 Red River Bancshares, Inc. $RRBI

The Manufacturers Life Insurance Company bought a new position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 132,333 shares of the company’s stock, valued at approximately $12,079,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Red River Bancshares in the 2nd quarter valued at about $35,053,000. Wellington Management Group LLP lifted its holdings in shares of Red River Bancshares by 345.1% during the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after purchasing an additional 222,401 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Red River Bancshares by 0.3% in the third quarter. Vanguard Group Inc. now owns 240,722 shares of the company’s stock valued at $15,604,000 after acquiring an additional 769 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Red River Bancshares by 12.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 125,314 shares of the company’s stock valued at $11,333,000 after purchasing an additional 13,866 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Red River Bancshares by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 113,509 shares of the company’s stock worth $8,110,000 after acquiring an additional 2,722 shares during the period. 27.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial started coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They set a “market perform” rating for the company. Stephens boosted their target price on Red River Bancshares from $101.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Wall Street Zen raised Red River Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Weiss Ratings upgraded Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $106.00.

Red River Bancshares Price Performance

Shares of RRBI opened at $100.77 on Friday. The firm has a 50 day simple moving average of $98.22 and a 200-day simple moving average of $93.27. Red River Bancshares, Inc. has a 1-year low of $61.60 and a 1-year high of $104.35. The stock has a market cap of $663.07 million, a price-to-earnings ratio of 14.50 and a beta of 0.41.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, July 30th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. The firm had revenue of $33.71 million for the quarter, compared to analyst estimates of $33.66 million. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%. On average, equities analysts expect 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 will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be given 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 dividend 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.