Red River Bancshares, Inc. (NASDAQ:RRBI) expects quarterly dividend of $0.07

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

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

NASDAQ:RRBI opened at $51.34 on Friday. The company has a 50-day simple moving average of $52.91 and a 200-day simple moving average of $52.67. The company has a market capitalization of $368.42 million, a PE ratio of 11.54 and a beta of 0.75. Red River Bancshares has a 1-year minimum of $46.93 and a 1-year maximum of $57.73.

Red River Bancshares (NASDAQ:RRBI – Get Rating) last released its quarterly earnings data on Friday, April 29. The company reported earnings per share of $1.03 for the quarter, beating consensus analyst 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%. Stock analysts expect Red River Bancshares to post earnings per share of 4.29 for the current year.

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In other Red River Bancshares news, Director Teddy Ray Price acquired 491 shares of the company in a transaction on Thursday, May 5. The stock was purchased at an average price of $54.00 per share, for a total transaction of $26,514.00. Following the completion of the purchase, the administrator now directly owns 361,772 shares of the company, valued at $19,535,688. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Michael D. Crowell purchased 1,000 shares of Red River Bancshares in a trade dated Thursday, March 10. The shares were purchased at an average cost of $48.74 per share, for a total transaction of $48,740.00. Disclosure of this purchase can be found here. 22.50% of the shares are held by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in shares of Red River Bancshares by 10.6% during the first quarter. The Manufacturers Life Insurance Company now owns 158,102 shares of the company worth $8,365,000 after buying an additional 15,201 shares last quarter. Captrust Financial Advisors acquired a new position in shares of Red River Bancshares during the first quarter worth $499,000. State Street Corp increased its position in shares of Red River Bancshares by 4.2% during the first quarter. State Street Corp now owns 86,935 shares of the company worth $4,600,000 after purchasing an additional 3,495 shares last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Red River Bancshares by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,813 shares of the company worth $626,000 after buying 210 more shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Red River Bancshares by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 29,686 shares of the company valued at $1,570,000 after acquiring 2,608 additional shares in the last quarter. 17.85% of the shares are currently held by institutional investors and hedge funds.

A number of equity research analysts have recently released reports on the stock. TheStreet downgraded shares of Red River Bancshares from a “b” rating to a “c” rating in a Wednesday, April 20 report. Zacks Investment Research upgraded shares of Red River Bancshares from a “hold” rating to a “buy” rating and set a target price of $58.00 for the company in a report released Wednesday.

About Red River Bancshares (Get a rating)

Red River Bancshares, Inc operates as a bank holding company for Red River Bank which provides banking products and services to commercial and retail customers in Louisiana. The Company offers various deposit products, including checking, savings accounts, money market accounts and term deposits. It also offers commercial real estate loans; one to four family mortgages 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; housing mortgages; and lines of credit and stand-by letters of credit.

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Dividend history for Red River Bancshares (NASDAQ:RRBI)

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