Steel Grove Capital Advisors LLC Acquires New Shares in Red River Bancshares, Inc. $RRBI

Steel Grove Capital Advisors LLC acquired a new stake in Red River Bancshares, Inc. (NASDAQ:RRBI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,476 shares of the company’s stock, valued at approximately $391,000. Steel Grove Capital Advisors LLC owned approximately 0.08% of Red River Bancshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised 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. Geode Capital Management LLC raised its holdings in shares of Red River Bancshares by 3.0% in the second quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock valued at $6,527,000 after acquiring an additional 3,196 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Red River Bancshares by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 102,494 shares of the company’s stock valued at $6,644,000 after acquiring an additional 3,379 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Red River Bancshares by 44.5% in the first quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock valued at $2,552,000 after acquiring an additional 15,205 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in shares of Red River Bancshares in the fourth quarter valued at about $3,528,000. 27.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Raymond James Financial restated a “market perform” rating on shares of Red River Bancshares in a report on Tuesday, April 7th. Stephens downgraded Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price objective for the company. in a report on Tuesday, May 5th. Finally, Zacks Research downgraded Red River Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.50.

Red River Bancshares Price Performance

RRBI opened at $92.14 on Wednesday. The business’s 50-day moving average is $91.47 and its two-hundred day moving average is $82.52. Red River Bancshares, Inc. has a 1 year low of $54.05 and a 1 year high of $98.85. The firm has a market capitalization of $606.74 million, a PE ratio of 13.79 and a beta of 0.42.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Thursday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.12. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%.The company had revenue of $32.94 million for the quarter, compared to analyst estimates of $33.03 million. As a group, sell-side analysts expect that Red River Bancshares, Inc. will post 7.22 EPS for the current year.

Red River Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. This is a boost from Red River Bancshares’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, March 9th. Red River Bancshares’s payout ratio is presently 14.97%.

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.