Mendon Capital Advisors Corp Makes New $1.04 Million Investment in Red River Bancshares Inc (NASDAQ:RRBI)

Mendon Capital Advisors Corp acquired a new position in Red River Bancshares Inc (NASDAQ:RRBI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,520 shares of the company’s stock, valued at approximately $1,043,000. Mendon Capital Advisors Corp owned 0.29% of Red River Bancshares as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RRBI. Advisor Group Inc. purchased a new position in shares of Red River Bancshares in the second quarter worth about $132,000. ELCO Management Co. LLC purchased a new position in shares of Red River Bancshares in the second quarter worth about $1,043,000. THB Asset Management purchased a new position in shares of Red River Bancshares in the second quarter worth about $1,433,000. Finally, Banc Funds Co. LLC purchased a new position in shares of Red River Bancshares in the second quarter worth about $1,615,000. 9.26% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on RRBI. Stephens began coverage on shares of Red River Bancshares in a research note on Tuesday, May 28th. They issued an “equal weight” rating and a $54.00 target price for the company. FIG Partners began coverage on shares of Red River Bancshares in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $60.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Red River Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday.

Shares of RRBI traded down $0.85 during trading hours on Friday, hitting $42.35. The company’s stock had a trading volume of 20 shares, compared to its average volume of 4,991. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $45.30. Red River Bancshares Inc has a 52-week low of $42.35 and a 52-week high of $58.00.

Red River Bancshares (NASDAQ:RRBI) last posted its earnings results on Monday, July 29th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.10). The firm had revenue of $19.75 million for the quarter, compared to analysts’ expectations of $19.26 million. On average, sell-side analysts expect that Red River Bancshares Inc will post 3.36 earnings per share for the current fiscal year.

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 businesses, professionals, individuals, and public entities in Louisiana. It provides consumer checking accounts, money market accounts, and time deposits; real estate loans, commercial loans, treasury management services; and private banking services, residential mortgage lending, and investment services.

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Institutional Ownership by Quarter for Red River Bancshares (NASDAQ:RRBI)

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