Red River Bancshares, Inc. to Issue Quarterly Dividend of $0.09 (NASDAQ:RRBI)

Red River Bancshares, Inc. (NASDAQ:RRBI) announced a quarterly dividend on Thursday, May 23rd, Zacks reports. Investors of record on Monday, June 10th will be given a dividend of 0.09 per share on Thursday, June 20th. This represents a $0.36 annualized dividend and a yield of 0.78%. The ex-dividend date is Monday, June 10th.

Red River Bancshares has raised its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Red River Bancshares has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Red River Bancshares to earn $4.92 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 7.3%.

Red River Bancshares Price Performance

Red River Bancshares stock traded down $0.01 during midday trading on Friday, reaching $46.20. The company’s stock had a trading volume of 4,566 shares, compared to its average volume of 6,144. The stock has a market capitalization of $318.78 million, a P/E ratio of 9.85 and a beta of 0.61. Red River Bancshares has a 52-week low of $44.42 and a 52-week high of $58.00. The stock’s 50-day simple moving average is $47.53 and its 200-day simple moving average is $50.46.

Red River Bancshares (NASDAQ:RRBI) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.05 by $0.11. Red River Bancshares had a return on equity of 11.46% and a net margin of 22.87%. The business had revenue of $26.29 million for the quarter, compared to analyst estimates of $26.16 million. As a group, equities research analysts expect that Red River Bancshares will post 4.64 earnings per share for the current fiscal year.

Insider Activity

In other Red River Bancshares news, insider Tammi R. Salazar sold 781 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $50.05, for a total transaction of $39,089.05. Following the completion of the sale, the insider now directly owns 39,901 shares in the company, valued at $1,997,045.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 1,173 shares of company stock worth $58,732. Insiders own 16.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TheStreet cut Red River Bancshares from a “b” rating to a “c+” rating in a report on Monday, March 4th.

Red River Bancshares Company Profile

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.