Red River Bancshares, Inc. (NASDAQ:RRBI) Announces $0.07 Quarterly Dividend

Red River Bancshares, Inc. (NASDAQ:RRBI) announced a quarterly dividend on Thursday, May 27th, Zacks reports. Stockholders of record on Monday, June 14th will be paid a dividend of 0.07 per share on Thursday, June 24th. This represents a $0.28 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Friday, June 11th.

Red River Bancshares has a payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Red River Bancshares to earn $3.61 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 7.8%.

Shares of RRBI stock opened at $52.37 on Thursday. The company has a fifty day moving average of $55.02. The firm has a market cap of $382.56 million, a price-to-earnings ratio of 13.06 and a beta of 0.97. Red River Bancshares has a one year low of $36.49 and a one year high of $65.07.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings results on Wednesday, April 28th. The company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.18. Red River Bancshares had a return on equity of 10.53% and a net margin of 28.56%. As a group, sell-side analysts anticipate that Red River Bancshares will post 3.63 EPS for the current fiscal year.

In other Red River Bancshares news, insider Harold W. Turner sold 500 shares of the firm’s stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $54.92, for a total value of $27,460.00. Following the sale, the insider now owns 39,000 shares of the company’s stock, valued at approximately $2,141,880. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bryon C. Salazar sold 1,000 shares of the firm’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $61.77, for a total value of $61,770.00. The disclosure for this sale can be found here. Company insiders own 21.59% of the company’s stock.

RRBI has been the subject of several recent research reports. TheStreet cut Red River Bancshares from a “b-” rating to a “c” rating in a research report on Monday. Zacks Investment Research upgraded Red River Bancshares from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Saturday, May 29th.

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. It provides various deposit products, including checking, saving, money market accounts, and time deposits. The company also 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; tax-exempt loans; small business administration paycheck protection program 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.

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Dividend History for Red River Bancshares (NASDAQ:RRBI)

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