First Eagle Investment Management LLC Makes New Investment in Red River Bancshares, Inc. $RRBI

First Eagle Investment Management LLC bought a new position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 49,396 shares of the company’s stock, valued at approximately $3,528,000.

Several other institutional investors have also recently made changes to their positions in RRBI. Goldman Sachs Group Inc. lifted its stake in shares of Red River Bancshares by 44.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,400 shares of the company’s stock valued at $2,552,000 after purchasing an additional 15,205 shares during the period. SummerHaven Investment Management LLC bought a new stake in shares of Red River Bancshares during the third quarter valued at approximately $852,000. Hillsdale Investment Management Inc. grew its stake in Red River Bancshares by 23.0% in the third quarter. Hillsdale Investment Management Inc. now owns 44,900 shares of the company’s stock worth $2,910,000 after purchasing an additional 8,400 shares during the period. Jane Street Group LLC purchased a new stake in Red River Bancshares in the first quarter worth $315,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Red River Bancshares by 42.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 20,335 shares of the company’s stock worth $1,194,000 after purchasing an additional 6,011 shares in the last quarter. Institutional investors own 27.55% of the company’s stock.

Analyst Upgrades and Downgrades

RRBI has been the topic of a number of research reports. Stephens cut shares of Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 target price on the stock. in a report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a research note on Thursday, January 22nd. Zacks Research cut shares of Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Raymond James Financial reissued a “market perform” rating on shares of Red River Bancshares in a research note on Tuesday, April 7th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.50.

Red River Bancshares Stock Down 0.9%

RRBI stock opened at $88.97 on Thursday. The business has a 50 day moving average of $91.11 and a 200 day moving average of $81.04. The firm has a market cap of $585.42 million, a PE ratio of 13.32 and a beta of 0.42. Red River Bancshares, Inc. has a twelve month low of $54.05 and a twelve month high of $98.85.

Red River Bancshares (NASDAQ:RRBI) last released its earnings results on Thursday, April 30th. The company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.69 by $0.12. Red River Bancshares had a return on equity of 12.46% and a net margin of 25.74%.The business had revenue of $32.94 million for the quarter, compared to the consensus estimate of $33.03 million. On average, research analysts expect that Red River Bancshares, Inc. will post 7.22 earnings per share for the current fiscal year.

Red River Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, March 9th. This is a positive change from Red River Bancshares’s previous quarterly dividend of $0.15. Red River Bancshares’s dividend payout ratio (DPR) is presently 14.97%.

Red River Bancshares Profile

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.