Tammi R. Salazar Sells 369 Shares of Red River Bancshares, Inc. (NASDAQ:RRBI) Stock

Red River Bancshares, Inc. (NASDAQ:RRBI) insider Tammi R. Salazar sold 369 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $50.10, for a total value of $18,486.90. Following the completion of the sale, the insider now owns 40,682 shares in the company, valued at $2,038,168.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Red River Bancshares Stock Up 2.5 %

Shares of NASDAQ RRBI opened at $49.54 on Thursday. The stock has a market capitalization of $351.24 million, a price-to-earnings ratio of 10.19 and a beta of 0.59. The stock’s fifty day simple moving average is $50.48 and its 200 day simple moving average is $50.28. Red River Bancshares, Inc. has a 52-week low of $43.50 and a 52-week high of $58.00.

Red River Bancshares (NASDAQ:RRBI) last issued its earnings results on Tuesday, January 30th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $27.28 million for the quarter, compared to analysts’ expectations of $25.50 million. Red River Bancshares had a return on equity of 12.18% and a net margin of 24.83%. As a group, analysts anticipate that Red River Bancshares, Inc. will post 4.49 earnings per share for the current year.

Red River Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, March 8th. This is a boost from Red River Bancshares’s previous quarterly dividend of $0.08. Red River Bancshares’s dividend payout ratio (DPR) is 7.41%.

Institutional Trading of Red River Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of RRBI. Acadian Asset Management LLC boosted its position in Red River Bancshares by 72.1% during the first quarter. Acadian Asset Management LLC now owns 4,441 shares of the company’s stock valued at $233,000 after purchasing an additional 1,861 shares during the last quarter. MetLife Investment Management LLC boosted its position in Red River Bancshares by 56.3% during the first quarter. MetLife Investment Management LLC now owns 2,529 shares of the company’s stock valued at $134,000 after purchasing an additional 911 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Red River Bancshares by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 29,686 shares of the company’s stock valued at $1,570,000 after purchasing an additional 2,608 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Red River Bancshares by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,813 shares of the company’s stock valued at $626,000 after purchasing an additional 210 shares during the last quarter. Finally, State Street Corp boosted its position in Red River Bancshares by 4.2% during the first quarter. State Street Corp now owns 86,935 shares of the company’s stock valued at $4,600,000 after purchasing an additional 3,495 shares during the last quarter. Institutional investors and hedge funds own 27.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TheStreet cut Red River Bancshares from a “b” rating to a “c+” rating in a research report on Monday, March 4th.

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.