Red River Bancshares, Inc. (NASDAQ:RRBI – Get Free Report) announced a quarterly dividend on Thursday, August 27th. Stockholders of record on Tuesday, September 8th will be paid a dividend of 0.25 per share on Thursday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 8th.
Red River Bancshares has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 3 years. Red River Bancshares has a payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Red River Bancshares to earn $7.63 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.1%.
Red River Bancshares Stock Down 0.1%
RRBI opened at $103.36 on Friday. Red River Bancshares has a 52-week low of $61.60 and a 52-week high of $104.63. The company has a market cap of $680.11 million, a P/E ratio of 14.87 and a beta of 0.41. The firm’s 50-day moving average price is $99.36 and its 200-day moving average price is $93.70.
Institutional Trading of Red River Bancshares
A number of hedge funds and other institutional investors have recently made changes to their positions in RRBI. Strs Ohio purchased a new position in shares of Red River Bancshares during the first quarter worth $26,000. Clearstead Advisors LLC boosted its holdings 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 purchasing an additional 522 shares during the last quarter. Legal & General Group Plc acquired a new stake in Red River Bancshares during the 2nd quarter worth about $46,000. Tower Research Capital LLC TRC grew its position in Red River Bancshares by 534.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,263 shares of the company’s stock worth $74,000 after purchasing an additional 1,064 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Red River Bancshares by 54.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,616 shares of the company’s stock valued at $105,000 after buying an additional 571 shares during the last quarter. Institutional investors and hedge funds 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.
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