Richmond Mutual Bancorporation (NASDAQ:RMBI) Raised to Hold at Wall Street Zen

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

Separately, Weiss Ratings downgraded Richmond Mutual Bancorporation from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 2nd. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, Richmond Mutual Bancorporation currently has an average rating of “Buy”.

Richmond Mutual Bancorporation Stock Performance

Richmond Mutual Bancorporation stock opened at $15.86 on Friday. The stock’s fifty day moving average is $15.61 and its two-hundred day moving average is $14.85. Richmond Mutual Bancorporation has a fifty-two week low of $12.77 and a fifty-two week high of $16.59. The firm has a market capitalization of $265.81 million, a price-to-earnings ratio of 13.11 and a beta of 0.34.

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

Insiders Place Their Bets

In related news, Director Jeffrey Jackson bought 2,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $15.92 per share, for a total transaction of $39,800.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Richmond Mutual Bancorporation

A number of hedge funds and other institutional investors have recently modified their holdings of RMBI. BlackRock Inc. acquired a new position in shares of Richmond Mutual Bancorporation in the second quarter valued at approximately $8,749,000. Dimensional Fund Advisors LP boosted its stake in Richmond Mutual Bancorporation by 3.8% in the first 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 last quarter. CX Institutional bought a new position in shares of Richmond Mutual Bancorporation during the 3rd quarter valued at approximately $1,211,000. Sapient Capital LLC bought a new stake in shares of Richmond Mutual Bancorporation in the 3rd quarter worth approximately $1,052,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Richmond Mutual Bancorporation in the 2nd quarter worth approximately $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.