Globeflex Capital L P Buys New Shares in Red River Bancshares, Inc. $RRBI

Globeflex Capital L P purchased a new position in Red River Bancshares, Inc. (NASDAQ:RRBI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,960 shares of the company’s stock, valued at approximately $635,000. Globeflex Capital L P owned about 0.11% of Red River Bancshares as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. increased its holdings in shares of Red River Bancshares by 2.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock worth $670,000 after buying an additional 200 shares during the period. NewEdge Advisors LLC boosted its holdings in Red River Bancshares by 5.8% during the 3rd quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock valued at $351,000 after acquiring an additional 296 shares during the period. State Street Corp boosted its holdings in Red River Bancshares by 0.4% during the 4th quarter. State Street Corp now owns 99,742 shares of the company’s stock valued at $7,125,000 after acquiring an additional 404 shares during the period. Strs Ohio bought a new position in Red River Bancshares during the 1st quarter worth approximately $26,000. Finally, Clearstead Advisors LLC grew its position in Red River Bancshares by 4,015.4% during the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock worth $38,000 after acquiring an additional 522 shares during the last quarter. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

Red River Bancshares Price Performance

Shares of NASDAQ:RRBI opened at $100.75 on Wednesday. The stock’s 50-day moving average is $97.47 and its 200 day moving average is $93.07. The company has a market cap of $662.93 million, a PE ratio of 14.50 and a beta of 0.41. Red River Bancshares, Inc. has a 1 year low of $61.60 and a 1 year high of $104.35.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.02. The business had revenue of $33.73 million during the quarter, compared to analysts’ expectations of $33.66 million. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%. Analysts expect that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were issued a $0.25 dividend. The ex-dividend date was Monday, June 8th. This represents a $1.00 annualized dividend and a yield of 1.0%. Red River Bancshares’s payout ratio is 14.39%.

Wall Street Analysts Forecast Growth

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

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.