Principal Financial Group Inc. Makes New Investment in Red River Bancshares, Inc. $RRBI

Principal Financial Group Inc. acquired a new stake in shares of Red River Bancshares, Inc. (NASDAQ:RRBI) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,348 shares of the company’s stock, valued at approximately $755,000.

Several other large investors have also made changes to their positions in the business. AQR Capital Management LLC increased its stake in shares of Red River Bancshares by 36.3% in the first quarter. AQR Capital Management LLC now owns 6,703 shares of the company’s stock worth $346,000 after acquiring an additional 1,784 shares during the period. Goldman Sachs Group Inc. lifted its position in Red River Bancshares by 44.5% during the first 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. Jane Street Group LLC purchased a new stake in Red River Bancshares in the first quarter valued at $315,000. Strs Ohio purchased a new stake in Red River Bancshares in the first quarter valued at $26,000. Finally, Geode Capital Management LLC grew its position 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 purchasing an additional 3,196 shares during the period. 27.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RRBI has been the subject of a number of recent research reports. Stephens lifted their price objective on Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday. Wall Street Zen downgraded Red River Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday. Raymond James Financial initiated coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They set a “market perform” rating for the company. Finally, Weiss Ratings raised shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $106.00.

Red River Bancshares Price Performance

Red River Bancshares stock opened at $100.55 on Friday. The stock has a market capitalization of $661.62 million, a PE ratio of 14.47 and a beta of 0.42. The business has a 50 day simple moving average of $93.93 and a 200-day simple moving average of $90.25. Red River Bancshares, Inc. has a 12 month low of $58.67 and a 12 month high of $103.49.

Red River Bancshares (NASDAQ:RRBI) last announced its earnings results on Thursday, July 30th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. Red River Bancshares had a return on equity of 12.65% and a net margin of 26.25%.The firm had revenue of $33.70 million for the quarter, compared to analyst estimates of $33.66 million. On average, equities research analysts anticipate that Red River Bancshares, Inc. will post 7.26 EPS for the current fiscal year.

Red River Bancshares Announces Dividend

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

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.