Acadian Asset Management LLC Raises Stake in Red River Bancshares, Inc. $RRBI

Acadian Asset Management LLC boosted its holdings in Red River Bancshares, Inc. (NASDAQ:RRBI) by 11.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,208 shares of the company’s stock after purchasing an additional 4,857 shares during the quarter. Acadian Asset Management LLC owned about 0.70% of Red River Bancshares worth $2,769,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RRBI. Bank of New York Mellon Corp boosted its position in shares of Red River Bancshares by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 21,839 shares of the company’s stock worth $1,128,000 after purchasing an additional 518 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Red River Bancshares by 20.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,674 shares of the company’s stock valued at $861,000 after buying an additional 2,803 shares in the last quarter. Nuveen LLC purchased a new position in Red River Bancshares during the first quarter valued at $666,000. Russell Investments Group Ltd. boosted its holdings in Red River Bancshares by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 19,684 shares of the company’s stock worth $1,017,000 after acquiring an additional 1,219 shares in the last quarter. Finally, Martingale Asset Management L P grew its stake in shares of Red River Bancshares by 14.1% in the first quarter. Martingale Asset Management L P now owns 13,832 shares of the company’s stock worth $714,000 after acquiring an additional 1,705 shares during the last quarter. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Stock Performance

NASDAQ RRBI opened at $67.44 on Friday. Red River Bancshares, Inc. has a one year low of $46.33 and a one year high of $69.40. The stock has a 50-day moving average of $65.63 and a 200 day moving average of $61.80. The company has a market capitalization of $443.76 million, a price-to-earnings ratio of 11.18 and a beta of 0.55.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.08. Red River Bancshares had a net margin of 24.44% and a return on equity of 12.14%. The firm had revenue of $31.91 million for the quarter, compared to the consensus estimate of $31.28 million. On average, equities analysts predict that Red River Bancshares, Inc. will post 5.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RRBI. Weiss Ratings restated a “buy (b)” rating on shares of Red River Bancshares in a report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $67.00 price objective (up from $62.00) on shares of Red River Bancshares in a research report on Friday, August 1st. Finally, Zacks Research lowered shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Red River Bancshares has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Red River Bancshares Company 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.