Hillsdale Investment Management Inc. Cuts Stake in Red River Bancshares, Inc. $RRBI

Hillsdale Investment Management Inc. lowered its stake in shares of Red River Bancshares, Inc. (NASDAQ:RRBI) by 87.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,100 shares of the company’s stock after selling 34,800 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Red River Bancshares were worth $461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RRBI. Strs Ohio purchased a new position in shares of Red River Bancshares in the first quarter worth $26,000. Clearstead Advisors LLC increased its holdings in Red River Bancshares by 4,015.4% in the 4th quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after acquiring an additional 522 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Red River Bancshares by 258.0% in the 4th quarter. State of Alaska Department of Revenue now owns 945 shares of the company’s stock valued at $66,000 after acquiring an additional 681 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Red River Bancshares by 534.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock worth $74,000 after purchasing an additional 1,064 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Red River Bancshares by 54.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock worth $105,000 after purchasing an additional 571 shares in the last quarter. Institutional investors own 27.55% of the company’s stock.

Red River Bancshares Stock Up 2.4%

RRBI stock opened at $99.87 on Friday. Red River Bancshares, Inc. has a 52 week low of $58.12 and a 52 week high of $100.52. The company has a fifty day simple moving average of $91.84 and a two-hundred day simple moving average of $88.27. The firm has a market capitalization of $657.14 million, a P/E ratio of 14.95 and a beta of 0.42.

Red River Bancshares (NASDAQ:RRBI) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.12. Red River Bancshares had a net margin of 25.74% and a return on equity of 12.46%. The business had revenue of $32.94 million during the quarter, compared to analysts’ expectations of $33.03 million. As a group, analysts anticipate that Red River Bancshares, Inc. will post 7.26 EPS for the current year.

Red River Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were given a $0.25 dividend. The ex-dividend date was Monday, June 8th. This represents a $1.00 annualized dividend and a yield of 1.0%. Red River Bancshares’s dividend payout ratio (DPR) is currently 14.97%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings lowered Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Raymond James Financial started coverage on Red River Bancshares in a research report on Wednesday, July 1st. They issued a “market perform” rating on the stock. Zacks Research lowered Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Stephens cut Red River Bancshares from an “overweight” rating to an “equal weight” rating and set a $94.00 price target for the company. in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.50.

Red River Bancshares Company 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.