Connor Clark & Lunn Investment Management Ltd. Has $1.10 Million Stake in Red River Bancshares, Inc. $RRBI

Connor Clark & Lunn Investment Management Ltd. increased its stake in Red River Bancshares, Inc. (NASDAQ:RRBI) by 12.6% in the 2nd quarter, Holdings Channel reports. The firm owned 18,783 shares of the company’s stock after purchasing an additional 2,109 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Red River Bancshares were worth $1,103,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Red River Bancshares in the 1st quarter worth $26,000. Corton Capital Inc. acquired a new stake in shares of Red River Bancshares during the 2nd quarter worth approximately $245,000. Trexquant Investment LP acquired a new position in shares of Red River Bancshares in the 1st quarter valued at $269,000. Jane Street Group LLC acquired a new position in Red River Bancshares in the first quarter worth about $315,000. Finally, AQR Capital Management LLC raised its holdings in shares of Red River Bancshares by 36.3% in the 1st quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after buying an additional 1,784 shares in the last quarter. Institutional investors and hedge funds own 27.55% of the company’s stock.

Analysts Set New Price Targets

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

Red River Bancshares Stock Down 3.5%

Shares of Red River Bancshares stock opened at $65.10 on Tuesday. The stock has a market cap of $428.36 million, a P/E ratio of 10.80 and a beta of 0.55. The business’s 50 day moving average is $65.63 and its 200-day moving average is $62.03. Red River Bancshares, Inc. has a 12-month low of $46.33 and a 12-month high of $69.40.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $31.91 million for the quarter, compared to analyst estimates of $31.28 million. On average, sell-side analysts expect that Red River Bancshares, Inc. will post 5.28 EPS for the current year.

About Red River Bancshares

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.