Richmond Mutual Bancorporation (NASDAQ:RMBI) Issues Quarterly Earnings Results

Richmond Mutual Bancorporation (NASDAQ:RMBI) issued its quarterly earnings data on Friday. The company reported $0.11 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $27.40 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 Stock Performance

Shares of NASDAQ RMBI opened at $15.86 on Friday. Richmond Mutual Bancorporation has a 1-year low of $12.77 and a 1-year high of $16.59. The company has a market cap of $265.81 million, a PE ratio of 13.11 and a beta of 0.34. The company has a 50-day moving average of $15.61 and a two-hundred day moving average of $14.85.

Richmond Mutual Bancorporation Dividend Announcement

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

Insider Activity

In related news, Director Jeffrey Jackson purchased 2,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $15.92 per share, with a total value of $39,800.00. Following the completion of the purchase, the director directly owned 49,125 shares of the company’s stock, valued at $782,070. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.20% of the company’s stock.

Institutional Trading of Richmond Mutual Bancorporation

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Richmond Mutual Bancorporation in the 2nd quarter valued at $8,749,000. Dimensional Fund Advisors LP increased its stake in shares of 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 buying an additional 4,390 shares during the period. CX Institutional bought a new stake in shares of Richmond Mutual Bancorporation during the third quarter worth $1,211,000. Sapient Capital LLC bought a new stake in shares of Richmond Mutual Bancorporation during the third quarter worth $1,052,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Richmond Mutual Bancorporation during the second quarter worth $947,000. Institutional investors and hedge funds own 26.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. 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. Wall Street Zen raised Richmond Mutual Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

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.