Trexquant Investment LP Buys New Stake in Red River Bancshares, Inc. $RRBI

Trexquant Investment LP bought a new stake in Red River Bancshares, Inc. (NASDAQ:RRBI) during the first quarter, according to its most recent filing with the SEC. The firm bought 5,210 shares of the company’s stock, valued at approximately $269,000. Trexquant Investment LP owned about 0.08% of Red River Bancshares at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RRBI. Nuveen LLC acquired a new position in Red River Bancshares in the 1st quarter valued at $666,000. Millennium Management LLC grew its stake in Red River Bancshares by 50.4% in the 4th quarter. Millennium Management LLC now owns 21,883 shares of the company’s stock valued at $1,181,000 after buying an additional 7,334 shares during the last quarter. Citadel Advisors LLC grew its stake in Red River Bancshares by 40.6% in the 4th quarter. Citadel Advisors LLC now owns 18,630 shares of the company’s stock valued at $1,006,000 after buying an additional 5,381 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Red River Bancshares by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 84,557 shares of the company’s stock valued at $4,564,000 after buying an additional 5,346 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Red River Bancshares by 32,611.1% in the 1st quarter. GAMMA Investing LLC now owns 2,944 shares of the company’s stock valued at $152,000 after buying an additional 2,935 shares during the last quarter. 27.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial restated an “outperform” rating and issued a $67.00 price target (up from $62.00) on shares of Red River Bancshares in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $67.00.

Red River Bancshares Stock Performance

NASDAQ:RRBI opened at $64.50 on Wednesday. The company has a 50-day moving average of $63.23 and a 200-day moving average of $57.21. The company has a market capitalization of $430.67 million, a price-to-earnings ratio of 11.38 and a beta of 0.53. Red River Bancshares, Inc. has a 52 week low of $46.33 and a 52 week high of $66.50.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. The company had revenue of $30.09 million during the quarter, compared to the consensus estimate of $30.04 million. Red River Bancshares had a net margin of 23.62% and a return on equity of 11.76%. Sell-side analysts forecast that Red River Bancshares, Inc. will post 5.28 EPS for the current year.

Red River Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Monday, September 8th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.60 annualized dividend and a yield of 0.9%. This is an increase from Red River Bancshares’s previous quarterly dividend of $0.12. Red River Bancshares’s payout ratio is 10.58%.

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.