Richmond Mutual Bancorporation (NASDAQ:RMBI) Stock Rating Lowered by Wall Street Zen

Richmond Mutual Bancorporation (NASDAQ:RMBI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Richmond Mutual Bancorporation from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Strong Buy”.

Richmond Mutual Bancorporation Stock Performance

Shares of RMBI stock opened at $15.26 on Friday. Richmond Mutual Bancorporation has a 1 year low of $12.77 and a 1 year high of $16.59. The firm’s fifty day simple moving average is $15.76 and its 200 day simple moving average is $14.96. The firm has a market capitalization of $255.76 million, a P/E ratio of 12.61 and a beta of 0.31.

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

Insider Activity

In other news, Director Jeffrey Jackson bought 2,500 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $15.92 per share, for a total transaction of $39,800.00. Following the completion of the purchase, the director owned 49,125 shares of the company’s stock, valued at approximately $782,070. The trade was a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Richmond Mutual Bancorporation

A number of large investors have recently bought and sold shares of RMBI. Ameritas Advisory Services LLC acquired a new position in Richmond Mutual Bancorporation in the second quarter worth $56,000. Susquehanna International Group LLP bought a new stake in shares of Richmond Mutual Bancorporation during the second quarter worth $875,000. Sanctuary Advisors LLC acquired a new stake in shares of Richmond Mutual Bancorporation in the second quarter valued at $947,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Richmond Mutual Bancorporation in the second quarter valued at $31,000. Finally, Allworth Financial LP acquired a new stake in shares of Richmond Mutual Bancorporation in the second quarter valued at $51,000. 26.52% of the stock is currently owned by institutional investors.

Richmond Mutual Bancorporation Company Profile

Richmond Mutual Bancorporation, Inc is the bank holding company for First Bank Richmond, a community-oriented financial institution headquartered in Richmond, Indiana. The company’s banking operations serve individuals, families, farmers, businesses and other organizations through a range of traditional financial products and services.

First Bank Richmond offers deposit accounts, including checking, savings, money market accounts and certificates of deposit, along with residential mortgage, home equity, consumer, commercial real estate, commercial and industrial, and agricultural lending.