Richmond Mutual Bancorporation (NASDAQ:RMBI) Upgraded to Hold 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 report released on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings cut shares of 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. According to MarketBeat.com, Richmond Mutual Bancorporation has an average rating of “Buy”.

Richmond Mutual Bancorporation Stock Performance

RMBI stock opened at $15.86 on Friday. The firm has a 50-day simple moving average of $15.61 and a two-hundred day simple moving average of $14.85. Richmond Mutual Bancorporation has a one year low of $12.77 and a one year high of $16.59. The firm has a market cap of $265.81 million, a price-to-earnings ratio of 13.11 and a beta of 0.34.

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

Richmond Mutual Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were issued a dividend of $0.15 per share. 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 49.59%.

Insider Buying and Selling

In related news, Director Jeffrey Jackson bought 2,500 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the director directly owned 49,125 shares in the company, valued at approximately $782,070. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

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

Richmond Mutual Bancorporation Company Profile

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.