Ieq Capital LLC Makes New Investment in Red River Bancshares, Inc. $RRBI

Ieq Capital LLC acquired a new stake in Red River Bancshares, Inc. (NASDAQ:RRBI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,394 shares of the company’s stock, valued at approximately $492,000. Ieq Capital LLC owned approximately 0.08% of Red River Bancshares as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in Red River Bancshares by 36.3% during the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after acquiring an additional 1,784 shares in the last quarter. Goldman Sachs Group Inc. increased 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 worth $2,552,000 after acquiring an additional 15,205 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Red River Bancshares during the first quarter worth about $315,000. Strs Ohio acquired a new stake in shares of Red River Bancshares during the first quarter worth about $26,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Red River Bancshares by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock valued at $6,527,000 after purchasing an additional 3,196 shares in the last quarter. Institutional investors and hedge funds own 27.55% of the company’s stock.

Analysts Set New Price Targets

RRBI has been the subject of a number of research reports. Wall Street Zen raised Red River Bancshares from a “sell” rating to a “hold” rating in a research note 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. Raymond James Financial initiated coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They issued a “market perform” rating for the company. Finally, Stephens increased their price objective on shares of 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. One research 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 company presently has an average rating of “Hold” and a consensus price target of $106.00.

Red River Bancshares Price Performance

RRBI stock opened at $100.77 on Friday. The stock has a market capitalization of $663.07 million, a P/E ratio of 14.50 and a beta of 0.41. Red River Bancshares, Inc. has a fifty-two week low of $61.60 and a fifty-two week high of $104.35. The business has a 50-day moving average of $98.22 and a 200-day moving average of $93.27.

Red River Bancshares (NASDAQ:RRBI) last announced 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. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%.The business had revenue of $33.71 million for the quarter, compared to analyst estimates of $33.66 million. Equities analysts expect that Red River Bancshares, Inc. will post 7.26 EPS for the current year.

Red River Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Red River Bancshares’s dividend payout ratio (DPR) is 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.