Red River Bancshares, Inc. (NASDAQ:RRBI) Increases Dividend to $0.25 Per Share

Red River Bancshares, Inc. (NASDAQ:RRBI) declared a quarterly dividend on Thursday, February 26th. Stockholders of record on Monday, March 9th will be given a dividend of 0.25 per share on Thursday, March 19th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, March 9th. This is a 66.7% increase from Red River Bancshares’s previous quarterly dividend of $0.15.

Red River Bancshares has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Red River Bancshares has a dividend payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Red River Bancshares to earn $5.52 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 10.9%.

Red River Bancshares Stock Down 1.6%

NASDAQ RRBI traded down $1.49 during trading on Friday, reaching $89.71. 23,312 shares of the stock traded hands, compared to its average volume of 44,897. Red River Bancshares has a fifty-two week low of $46.33 and a fifty-two week high of $93.90. The stock’s 50-day moving average price is $80.24 and its 200 day moving average price is $71.35. The firm has a market cap of $590.26 million, a price-to-earnings ratio of 14.04 and a beta of 0.51.

Red River Bancshares (NASDAQ:RRBI) last announced its earnings results on Friday, January 30th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.63 by $0.10. The firm had revenue of $33.19 million for the quarter, compared to the consensus estimate of $32.19 million. Red River Bancshares had a net margin of 25.18% and a return on equity of 12.58%. Analysts anticipate that Red River Bancshares will post 5.28 EPS for the current fiscal year.

Institutional Trading of Red River Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in RRBI. Wellington Management Group LLP boosted its stake in shares of Red River Bancshares by 345.1% during the fourth quarter. Wellington Management Group LLP now owns 286,844 shares of the company’s stock valued at $20,489,000 after purchasing an additional 222,401 shares during the period. Boston Partners purchased a new stake in Red River Bancshares in the fourth quarter worth about $4,117,000. First Eagle Investment Management LLC bought a new stake in Red River Bancshares in the fourth quarter worth $3,528,000. Hillsdale Investment Management Inc. grew its holdings in shares of Red River Bancshares by 615.7% during the second quarter. Hillsdale Investment Management Inc. now owns 36,500 shares of the company’s stock valued at $2,143,000 after buying an additional 31,400 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 27.55% of the company’s stock.

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.