Red River Bancshares, Inc. (RRBI) to Issue Quarterly Dividend of $0.07 on June 23rd

Red River Bancshares, Inc. (NASDAQ:RRBIGet Rating) declared a quarterly dividend on Thursday, May 26th, Zacks reports. Shareholders of record on Monday, June 13th will be paid a dividend of 0.07 per share on Thursday, June 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, June 10th.

Red River Bancshares has a payout ratio of 5.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Red River Bancshares to earn $4.71 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 5.9%.

Red River Bancshares stock opened at $51.34 on Friday. Red River Bancshares has a 1-year low of $46.93 and a 1-year high of $57.73. The company has a market cap of $368.42 million, a PE ratio of 11.54 and a beta of 0.75. The stock’s 50 day moving average price is $52.91 and its 200 day moving average price is $52.67.

Red River Bancshares (NASDAQ:RRBIGet Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.03. Red River Bancshares had a net margin of 32.19% and a return on equity of 11.18%. Research analysts expect that Red River Bancshares will post 4.29 EPS for the current fiscal year.

In related news, Director Michael D. Crowell bought 1,000 shares of Red River Bancshares stock in a transaction that occurred on Thursday, March 10th. The stock was acquired at an average price of $48.74 per share, with a total value of $48,740.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Teddy Ray Price acquired 491 shares of the business’s stock in a transaction on Thursday, May 5th. The stock was acquired at an average cost of $54.00 per share, with a total value of $26,514.00. Following the acquisition, the director now directly owns 361,772 shares in the company, valued at $19,535,688. The disclosure for this purchase can be found here. 22.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its stake in Red River Bancshares by 110.8% during the third quarter. BNP Paribas Arbitrage SA now owns 1,206 shares of the company’s stock worth $60,000 after acquiring an additional 634 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Red River Bancshares by 117.5% in the fourth quarter. Citigroup Inc. now owns 1,131 shares of the company’s stock valued at $61,000 after buying an additional 611 shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new stake in shares of Red River Bancshares in the fourth quarter valued at about $65,000. MetLife Investment Management LLC purchased a new stake in Red River Bancshares during the fourth quarter worth about $87,000. Finally, Royal Bank of Canada increased its holdings in Red River Bancshares by 7.8% during the third quarter. Royal Bank of Canada now owns 2,644 shares of the company’s stock worth $132,000 after buying an additional 191 shares during the last quarter. Institutional investors and hedge funds own 17.85% of the company’s stock.

Several equities analysts have commented on RRBI shares. Zacks Investment Research raised shares of Red River Bancshares from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday. TheStreet downgraded shares of Red River Bancshares from a “b” rating to a “c” rating in a research report on Wednesday, April 20th.

Red River Bancshares Company Profile (Get Rating)

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 also 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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Dividend History for Red River Bancshares (NASDAQ:RRBI)

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