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

Richmond Mutual Bancorporation (NASDAQ:RMBI) posted its quarterly earnings data on Friday. The company reported $0.11 EPS for the quarter, FiscalAI reports. The company had revenue of $27.40 million during the quarter. Richmond Mutual Bancorporation had a net margin of 13.00% and a return on equity of 8.30%.

Richmond Mutual Bancorporation Price Performance

RMBI stock remained flat at $15.86 during trading on Friday. The company’s stock had a trading volume of 30,731 shares, compared to its average volume of 49,803. The firm has a market cap of $265.81 million, a price-to-earnings ratio of 13.11 and a beta of 0.34. The firm’s 50-day simple moving average is $15.61 and its 200 day simple moving average is $14.84. Richmond Mutual Bancorporation has a 1 year low of $12.77 and a 1 year high of $16.59.

Richmond Mutual Bancorporation Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Richmond Mutual Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Weiss Ratings lowered shares of Richmond Mutual Bancorporation from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Insider Activity at Richmond Mutual Bancorporation

In other news, Director Jeffrey Jackson acquired 2,500 shares of Richmond Mutual Bancorporation 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 purchase, the director directly 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 filing with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of Richmond Mutual Bancorporation

A number of institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Richmond Mutual Bancorporation in the second quarter worth $31,000. Allworth Financial LP acquired a new position in shares of Richmond Mutual Bancorporation during the 2nd quarter valued at $51,000. Ameritas Advisory Services LLC acquired a new position in shares of Richmond Mutual Bancorporation during the 2nd quarter valued at $56,000. Deutsche Bank AG purchased a new stake in Richmond Mutual Bancorporation during the 2nd quarter worth $132,000. Finally, Farther Finance Advisors LLC boosted its position in Richmond Mutual Bancorporation by 62,706.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,049 shares of the company’s stock worth $149,000 after purchasing an additional 10,033 shares during the period. Hedge funds and other institutional investors 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.