Sei Investments Co. Makes New $1.63 Million Investment in Red River Bancshares, Inc. $RRBI

Sei Investments Co. acquired a new position in Red River Bancshares, Inc. (NASDAQ:RRBI) in the first quarter, Holdings Channel reports. The firm acquired 17,985 shares of the company’s stock, valued at approximately $1,627,000.

Several other large investors also recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in Red River Bancshares in the 1st quarter worth about $26,000. Clearstead Advisors LLC grew its stake in Red River Bancshares by 4,015.4% during 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 in the last quarter. State of Alaska Department of Revenue grew its stake in Red River Bancshares by 258.0% during 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 in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 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 valued at $74,000 after purchasing an additional 1,064 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Red River Bancshares by 54.6% in the third 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. 27.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RRBI shares. Wall Street Zen raised Red River Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings cut Red River Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Stephens increased their price objective on Red River Bancshares from $101.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, Raymond James Financial started coverage on shares of Red River Bancshares in a research report on Wednesday, July 1st. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Red River Bancshares currently has a consensus rating of “Hold” and a consensus target price of $106.00.

Red River Bancshares Stock Up 0.6%

Red River Bancshares stock opened at $100.68 on Tuesday. The stock has a 50-day simple moving average of $95.09 and a 200 day simple moving average of $91.49. The stock has a market capitalization of $662.47 million, a price-to-earnings ratio of 14.49 and a beta of 0.41. Red River Bancshares, Inc. has a 12-month low of $60.99 and a 12-month high of $103.49.

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 the consensus estimate of $1.76 by $0.02. The firm had revenue of $33.73 million during the quarter, compared to analysts’ expectations of $33.66 million. Red River Bancshares had a net margin of 26.25% and a return on equity of 12.65%. As a group, sell-side analysts anticipate that Red River Bancshares, Inc. will post 7.26 EPS for the current year.

Red River Bancshares Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.0%. Red River Bancshares’s dividend payout ratio is currently 14.39%.

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.