Red River Bancshares, Inc. (NASDAQ:RRBI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Red River Bancshares, Inc. (NASDAQ:RRBI - Free Report) by 101.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,658 shares of the company's stock after acquiring an additional 8,895 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.26% of Red River Bancshares worth $953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RRBI. Globeflex Capital L P raised its stake in Red River Bancshares by 195.7% in the 4th quarter. Globeflex Capital L P now owns 2,871 shares of the company's stock valued at $155,000 after purchasing an additional 1,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Red River Bancshares by 67.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,871 shares of the company's stock worth $749,000 after buying an additional 5,587 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Red River Bancshares by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 21,321 shares of the company's stock valued at $1,151,000 after buying an additional 482 shares during the last quarter. Duncan Williams Asset Management LLC lifted its stake in shares of Red River Bancshares by 20.7% during the fourth quarter. Duncan Williams Asset Management LLC now owns 9,050 shares of the company's stock valued at $489,000 after buying an additional 1,550 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Red River Bancshares during the fourth quarter worth approximately $109,000. 27.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James initiated coverage on Red River Bancshares in a report on Tuesday, April 8th. They issued an "outperform" rating and a $57.00 price target for the company.

Red River Bancshares Trading Down 2.5 %

NASDAQ RRBI opened at $50.19 on Monday. The business's 50-day moving average price is $52.21 and its 200 day moving average price is $54.37. Red River Bancshares, Inc. has a twelve month low of $42.78 and a twelve month high of $62.13. The company has a market capitalization of $340.19 million, a PE ratio of 10.12 and a beta of 0.47.

Red River Bancshares (NASDAQ:RRBI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.14. Red River Bancshares had a net margin of 21.71% and a return on equity of 11.04%. Equities analysts predict that Red River Bancshares, Inc. will post 5.28 EPS for the current year.

Red River Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. This is an increase from Red River Bancshares's previous quarterly dividend of $0.09. Red River Bancshares's dividend payout ratio (DPR) is currently 9.68%.

About Red River Bancshares

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.

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