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

Principal Financial Group Inc. purchased a new position in shares of Red River Bancshares, Inc. (NASDAQ:RRBI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,348 shares of the company’s stock, valued at approximately $755,000. Principal Financial Group Inc. owned approximately 0.13% of Red River Bancshares at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. boosted its position in shares of Red River Bancshares by 2.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,344 shares of the company’s stock worth $670,000 after purchasing an additional 200 shares in the last quarter. NewEdge Advisors LLC grew its stake in Red River Bancshares by 5.8% during the 3rd quarter. NewEdge Advisors LLC now owns 5,419 shares of the company’s stock worth $351,000 after buying an additional 296 shares during the last quarter. State Street Corp increased its position in Red River Bancshares by 0.4% during the 4th quarter. State Street Corp now owns 99,742 shares of the company’s stock valued at $7,125,000 after buying an additional 404 shares in the last quarter. Strs Ohio acquired a new position in Red River Bancshares during the 1st quarter valued at about $26,000. Finally, Clearstead Advisors LLC raised its stake in Red River Bancshares by 4,015.4% in the fourth quarter. Clearstead Advisors LLC now owns 535 shares of the company’s stock valued at $38,000 after buying an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 27.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Red River Bancshares from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings upgraded shares of Red River Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 21st. Raymond James Financial began coverage on shares of Red River Bancshares in a report on Wednesday, July 1st. They set a “market perform” rating on the stock. Finally, Stephens increased their price objective on shares of Red River Bancshares from $101.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $106.00.

Red River Bancshares Price Performance

Shares of RRBI opened at $100.55 on Friday. The company’s fifty day moving average price is $93.93 and its 200-day moving average price is $90.25. Red River Bancshares, Inc. has a 1-year low of $58.67 and a 1-year high of $103.49. The firm has a market capitalization of $661.62 million, a PE ratio of 14.47 and a beta of 0.42.

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

Red River Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, June 8th. Red River Bancshares’s dividend payout ratio (DPR) is presently 14.97%.

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.