Northern Trust Corp Has $2.10 Million Position in Red River Bancshares, Inc. (NASDAQ:RRBI)

Northern Trust Corp increased its position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,831 shares of the company’s stock after purchasing an additional 1,087 shares during the period. Northern Trust Corp owned approximately 0.57% of Red River Bancshares worth $2,096,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RRBI. JPMorgan Chase & Co. lifted its holdings in Red River Bancshares by 133.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,763 shares of the company’s stock worth $456,000 after purchasing an additional 5,007 shares during the last quarter. SG Americas Securities LLC bought a new position in Red River Bancshares during the 4th quarter worth $109,000. Duncan Williams Asset Management LLC increased its stake in Red River Bancshares by 20.7% during the 4th quarter. Duncan Williams Asset Management LLC now owns 9,050 shares of the company’s stock worth $489,000 after acquiring an additional 1,550 shares during the period. Bank of New York Mellon Corp increased its stake in Red River Bancshares by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 21,321 shares of the company’s stock worth $1,151,000 after acquiring an additional 482 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Red River Bancshares by 67.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,871 shares of the company’s stock worth $749,000 after acquiring an additional 5,587 shares during the period. 27.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James restated an “outperform” rating and set a $62.00 price objective (up previously from $57.00) on shares of Red River Bancshares in a research note on Friday, May 2nd.

Red River Bancshares Stock Performance

Red River Bancshares stock opened at $55.39 on Monday. Red River Bancshares, Inc. has a 52 week low of $42.78 and a 52 week high of $62.13. The stock has a market capitalization of $375.99 million, a P/E ratio of 11.17 and a beta of 0.50. The stock has a fifty day moving average of $52.32 and a 200-day moving average of $54.66.

Red River Bancshares (NASDAQ:RRBI) last issued its earnings results on Wednesday, April 30th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.23. Red River Bancshares had a return on equity of 11.04% and a net margin of 21.71%. The business had revenue of $29.43 million during the quarter, compared to analysts’ expectations of $28.24 million. On average, research analysts forecast that Red River Bancshares, Inc. will post 5.28 earnings per share for the current year.

Red River Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Friday, June 6th will be given a $0.12 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. Red River Bancshares’s dividend payout ratio (DPR) is presently 9.02%.

Red River Bancshares Profile

Red River Bancshares, Inc operates as a bank holding company for Red River Bank that provides banking products and services to commercial and retail customers in Louisiana. The company provides various deposit products, including checking, saving, money market accounts, and time deposits. It offers commercial real estate loans; one-to-four family mortgage loans and home equity lines of credit; construction and development loans; commercial and industrial loans; small business administration paycheck protection program loans; tax-exempt loans; consumer loans to individuals for personal, family, and household purposes, including secured and unsecured installment and term loans; home mortgage loans; and lines of credit and standby letters of credit.