Renaissance Technologies LLC Reduces Holdings in Red River Bancshares, Inc. $RRBI

Renaissance Technologies LLC decreased its holdings in shares of Red River Bancshares, Inc. (NASDAQ:RRBI) by 73.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,600 shares of the company’s stock after selling 12,501 shares during the quarter. Renaissance Technologies LLC’s holdings in Red River Bancshares were worth $416,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Red River Bancshares by 345.1% in the 4th quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock worth $20,489,000 after acquiring an additional 222,401 shares during the last quarter. Boston Partners acquired a new stake in Red River Bancshares in the 4th quarter valued at approximately $4,117,000. First Eagle Investment Management LLC purchased a new stake in Red River Bancshares in the fourth quarter valued at approximately $3,528,000. Arrowstreet Capital Limited Partnership raised its position in Red River Bancshares by 164.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 72,375 shares of the company’s stock valued at $6,546,000 after purchasing an additional 45,014 shares during the period. Finally, Sei Investments Co. acquired a new position in Red River Bancshares during the first quarter worth $1,627,000. 27.55% of the stock is currently owned by institutional investors and hedge funds.

Red River Bancshares Stock Down 0.6%

Red River Bancshares stock opened at $101.81 on Wednesday. Red River Bancshares, Inc. has a 52-week low of $61.25 and a 52-week high of $104.35. The firm has a market cap of $669.91 million, a PE ratio of 14.65 and a beta of 0.41. The company’s 50 day moving average is $96.51 and its two-hundred day moving average is $92.54.

Red River Bancshares (NASDAQ:RRBI) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.02. The business had revenue of $33.73 million for the quarter, compared to analyst estimates of $33.66 million. Red River Bancshares had a return on equity of 12.47% and a net margin of 26.25%. On average, equities research analysts anticipate that Red River Bancshares, Inc. will post 7.26 earnings per share for the current fiscal year.

Red River Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, June 8th. Red River Bancshares’s payout ratio is presently 14.39%.

Analysts Set New Price Targets

Several research analysts have recently commented on RRBI shares. Wall Street Zen upgraded Red River Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings lowered Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Stephens raised their target price on Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, Raymond James Financial started coverage on Red River Bancshares in a research report on Wednesday, July 1st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $106.00.

About Red River Bancshares

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.