Hillsdale Investment Management Inc. Boosts Position in Red River Bancshares, Inc. $RRBI

Hillsdale Investment Management Inc. lifted its position in Red River Bancshares, Inc. (NASDAQ:RRBI) by 615.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,500 shares of the company’s stock after buying an additional 31,400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Red River Bancshares were worth $2,143,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RRBI. Geode Capital Management LLC increased its holdings in Red River Bancshares by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 111,163 shares of the company’s stock worth $6,527,000 after acquiring an additional 3,196 shares during the period. Acadian Asset Management LLC lifted its stake in Red River Bancshares by 11.5% in the 2nd quarter. Acadian Asset Management LLC now owns 47,208 shares of the company’s stock worth $2,769,000 after purchasing an additional 4,857 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Red River Bancshares by 12.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,783 shares of the company’s stock valued at $1,103,000 after purchasing an additional 2,109 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Red River Bancshares by 195.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 12,873 shares of the company’s stock valued at $756,000 after purchasing an additional 8,522 shares in the last quarter. Finally, Corton Capital Inc. bought a new position in shares of Red River Bancshares in the second quarter worth $245,000. 27.55% of the stock is currently owned by institutional investors.

Red River Bancshares Stock Up 2.8%

Shares of RRBI stock opened at $67.90 on Friday. The business has a 50-day moving average price of $65.76 and a two-hundred day moving average price of $62.30. Red River Bancshares, Inc. has a 12-month low of $46.33 and a 12-month high of $69.40. The firm has a market cap of $446.78 million, a P/E ratio of 11.26 and a beta of 0.55.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.08. Red River Bancshares had a return on equity of 12.14% and a net margin of 24.44%.The company had revenue of $31.91 million for the quarter, compared to analysts’ expectations of $31.28 million. As a group, research analysts expect that Red River Bancshares, Inc. will post 5.28 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Monday, December 8th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, December 8th. Red River Bancshares’s dividend payout ratio (DPR) is presently 9.95%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RRBI. Zacks Research downgraded Red River Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Raymond James Financial restated 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, Weiss Ratings reiterated a “buy (b)” rating on shares of Red River Bancshares in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Red River Bancshares Company Profile

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.