Red River Bancshares, Inc. (NASDAQ:RRBI) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE lifted its holdings in Red River Bancshares, Inc. (NASDAQ:RRBI) by 19.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,222 shares of the company’s stock after purchasing an additional 1,336 shares during the period. Bank of America Corp DE owned about 0.12% of Red River Bancshares worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in shares of Red River Bancshares by 138.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,146 shares of the company’s stock valued at $62,000 after buying an additional 666 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Red River Bancshares in the 4th quarter valued at $109,000. Wells Fargo & Company MN increased its holdings in Red River Bancshares by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,695 shares of the company’s stock worth $145,000 after acquiring an additional 587 shares in the last quarter. Globeflex Capital L P raised its position in Red River Bancshares by 195.7% during the fourth quarter. Globeflex Capital L P now owns 2,871 shares of the company’s stock worth $155,000 after acquiring an additional 1,900 shares during the period. Finally, Integrated Quantitative Investments LLC acquired a new position in Red River Bancshares during the fourth quarter worth $223,000. Institutional investors and hedge funds own 27.55% of the company’s stock.

Wall Street Analyst Weigh In

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

Red River Bancshares Price Performance

NASDAQ RRBI opened at $57.15 on Thursday. The stock’s 50 day simple moving average is $53.58 and its 200-day simple moving average is $54.55. The company has a market cap of $387.93 million, a PE ratio of 11.52 and a beta of 0.50. Red River Bancshares, Inc. has a 1-year low of $44.88 and a 1-year high of $62.13.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.52 earnings per share for the quarter, beating 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 company had revenue of $29.43 million for the quarter, compared to analyst estimates of $28.24 million. On average, equities research analysts anticipate that Red River Bancshares, Inc. will post 5.28 EPS for the current fiscal year.

Red River Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, June 6th. Red River Bancshares’s dividend payout ratio is currently 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.