Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) Stock Short Interest Report for September

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 461,166 shares, a growth of 85.4% from the September 15th total of 248,765 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average daily trading volume, of 190,349 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Richmond Mutual Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Weiss Ratings downgraded Richmond Mutual Bancorporation from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy”.

Richmond Mutual Bancorporation Stock Performance

Shares of RMBI traded up $0.01 during trading hours on Friday, hitting $15.34. The company had a trading volume of 31,175 shares, compared to its average volume of 50,166. The firm has a fifty day moving average price of $15.66 and a 200-day moving average price of $15.13. The stock has a market capitalization of $257.10 million, a price-to-earnings ratio of 12.68 and a beta of 0.34. Richmond Mutual Bancorporation has a 52-week low of $12.77 and a 52-week high of $16.59.

Richmond Mutual Bancorporation (NASDAQ:RMBI) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.22 EPS for the quarter. The company had revenue of $13.65 million for the quarter. Richmond Mutual Bancorporation had a net margin of 13.00% and a return on equity of 8.30%.

Richmond Mutual Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.60 annualized dividend and a yield of 3.9%. Richmond Mutual Bancorporation’s payout ratio is 49.59%.

Insider Activity at Richmond Mutual Bancorporation

In other Richmond Mutual Bancorporation news, Director Jeffrey Jackson bought 2,500 shares of Richmond Mutual Bancorporation stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $15.92 per share, with a total value of $39,800.00. Following the transaction, the director directly owned 49,125 shares of the company’s stock, valued at $782,070. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Richmond Mutual Bancorporation

A number of institutional investors have recently made changes to their positions in RMBI. Farther Finance Advisors LLC lifted its position in Richmond Mutual Bancorporation by 62,706.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,049 shares of the company’s stock valued at $149,000 after acquiring an additional 10,033 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of Richmond Mutual Bancorporation in the 3rd quarter worth $1,052,000. Valeo Financial Advisors LLC bought a new stake in shares of Richmond Mutual Bancorporation in the 3rd quarter worth $278,000. CX Institutional bought a new stake in shares of Richmond Mutual Bancorporation in the 3rd quarter worth $1,211,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Richmond Mutual Bancorporation in the second quarter worth $56,000. Hedge funds and other institutional investors own 26.52% of the company’s stock.

About Richmond Mutual Bancorporation

Richmond Mutual Bancorporation, Inc is the bank holding company for First Bank Richmond, a community-focused financial institution headquartered in Richmond, Indiana. Through its banking subsidiary, the company provides financial services to individuals, families and businesses in eastern Indiana and western Ohio.

First Bank Richmond offers a range of traditional banking products, including checking and savings accounts, certificates of deposit and other deposit services. Its lending activities include residential mortgages, home equity financing, consumer loans, commercial real estate loans and business lending.