Richmond Mutual Bancorporation (NASDAQ:RMBI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Richmond Mutual Bancorporation (NASDAQ:RMBI) from a sell rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings cut Richmond Mutual Bancorporation from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Richmond Mutual Bancorporation Price Performance

NASDAQ RMBI opened at $15.79 on Friday. Richmond Mutual Bancorporation has a 1 year low of $12.77 and a 1 year high of $16.59. The stock has a market capitalization of $264.62 million, a PE ratio of 13.05 and a beta of 0.34. The business’s 50-day moving average is $15.61 and its 200 day moving average is $14.86.

Richmond Mutual Bancorporation (NASDAQ:RMBI) last released its quarterly earnings results on Friday, October 30th. The company reported $0.11 EPS for the quarter. Richmond Mutual Bancorporation had a return on equity of 8.30% and a net margin of 13.00%. The business had revenue of $27.40 million during the quarter.

Richmond Mutual Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 3rd. Richmond Mutual Bancorporation’s dividend payout ratio (DPR) is currently 49.59%.

Insider Buying and Selling at Richmond Mutual Bancorporation

In related news, Director Jeffrey Jackson bought 2,500 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $15.92 per share, with a total value of $39,800.00. Following the purchase, the director owned 49,125 shares of the company’s stock, valued at approximately $782,070. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Richmond Mutual Bancorporation

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Richmond Mutual Bancorporation during the 2nd quarter valued at approximately $8,749,000. Dimensional Fund Advisors LP grew its holdings in shares of Richmond Mutual Bancorporation by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 120,515 shares of the company’s stock worth $1,635,000 after acquiring an additional 4,390 shares during the period. CX Institutional bought a new position in shares of Richmond Mutual Bancorporation in the 3rd quarter worth approximately $1,211,000. Sapient Capital LLC bought a new position in shares of Richmond Mutual Bancorporation in the 3rd quarter worth approximately $1,052,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Richmond Mutual Bancorporation in the 2nd quarter worth approximately $947,000. 26.52% of the stock is owned by institutional investors.

About Richmond Mutual Bancorporation

Richmond Mutual Bancorporation, Inc is a bank holding company headquartered in Richmond, Indiana. Through its principal subsidiary, First Bank Richmond, the company provides community banking services to individuals, families, businesses and organizations.

First Bank Richmond offers deposit products, residential and commercial real estate lending, consumer loans, business financing and other traditional banking services. Its products and services are designed to support personal financial needs, homeownership and the operating and expansion requirements of local businesses.

First Bank Richmond has roots dating to the late 19th century and serves communities in eastern Indiana and western Ohio through a network of banking locations and digital banking channels.