The Manufacturers Life Insurance Company Has $7.36 Million Stock Position in Red River Bancshares, Inc. (NASDAQ:RRBI)

The Manufacturers Life Insurance Company cut its holdings in shares of Red River Bancshares, Inc. (NASDAQ:RRBI) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,406 shares of the company’s stock after selling 783 shares during the period. The Manufacturers Life Insurance Company owned about 2.22% of Red River Bancshares worth $7,362,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in shares of Red River Bancshares by 42.3% during the 2nd quarter. Acadian Asset Management LLC now owns 13,417 shares of the company’s stock worth $642,000 after buying an additional 3,989 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Red River Bancshares in the first quarter worth about $424,000. Russell Investments Group Ltd. lifted its holdings in shares of Red River Bancshares by 5.6% in the first quarter. Russell Investments Group Ltd. now owns 22,919 shares of the company’s stock worth $1,141,000 after acquiring an additional 1,224 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Red River Bancshares by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 24,611 shares of the company’s stock valued at $1,181,000 after purchasing an additional 1,690 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Red River Bancshares during the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds own 27.55% of the company’s stock.

Red River Bancshares Price Performance

Shares of NASDAQ:RRBI opened at $50.26 on Friday. Red River Bancshares, Inc. has a one year low of $42.78 and a one year high of $58.00. The company has a market cap of $346.29 million, a price-to-earnings ratio of 10.72 and a beta of 0.61. The firm has a 50 day simple moving average of $51.56 and a 200 day simple moving average of $49.14.

Red River Bancshares (NASDAQ:RRBI) last released its quarterly earnings data on Friday, July 26th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $26.89 million for the quarter, compared to the consensus estimate of $26.68 million. Red River Bancshares had a return on equity of 10.90% and a net margin of 21.56%. As a group, analysts expect that Red River Bancshares, Inc. will post 4.68 EPS for the current year.

Red River Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Monday, September 9th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Monday, September 9th. Red River Bancshares’s dividend payout ratio is currently 7.68%.

Insider Activity at Red River Bancshares

In other Red River Bancshares news, Director Teddy Ray Price bought 580 shares of Red River Bancshares stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $53.16 per share, with a total value of $30,832.80. Following the acquisition, the director now directly owns 368,058 shares of the company’s stock, valued at $19,565,963.28. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Tammi R. Salazar sold 576 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $50.51, for a total transaction of $29,093.76. Following the completion of the transaction, the insider now directly owns 40,325 shares of the company’s stock, valued at $2,036,815.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teddy Ray Price purchased 580 shares of Red River Bancshares stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $53.16 per share, for a total transaction of $30,832.80. Following the transaction, the director now directly owns 368,058 shares in the company, valued at approximately $19,565,963.28. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 16.40% of the stock is owned by company insiders.

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.