Richmond Mutual Bancorporation (NASDAQ:RMBI) President Buys $23,310.00 in Stock

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) President Christopher Cook acquired 1,500 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were bought at an average cost of $15.54 per share, for a total transaction of $23,310.00. Following the completion of the acquisition, the president directly owned 27,686 shares of the company’s stock, valued at approximately $430,240.44. This represents a 5.73% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Richmond Mutual Bancorporation Stock Performance

Shares of NASDAQ:RMBI opened at $15.68 on Friday. The company has a 50 day moving average price of $15.58 and a two-hundred day moving average price of $14.89. The company has a market capitalization of $262.80 million, a PE ratio of 16.45 and a beta of 0.34. Richmond Mutual Bancorporation, Inc. has a 52 week low of $12.77 and a 52 week high of $16.59.

Richmond Mutual Bancorporation (NASDAQ:RMBI) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.11 earnings per share (EPS) for the quarter. Richmond Mutual Bancorporation had a net margin of 9.05% and a return on equity of 6.95%. The company had revenue of $27.40 million during the quarter.

Richmond Mutual Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 3rd. Richmond Mutual Bancorporation’s payout ratio is presently 62.50%.

Institutional Investors Weigh In On Richmond Mutual Bancorporation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its position in Richmond Mutual Bancorporation by 13.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,849 shares of the company’s stock valued at $87,000 after purchasing an additional 697 shares during the last quarter. CFC Planning Co LLC acquired a new position in shares of Richmond Mutual Bancorporation in the third quarter worth about $536,000. Farther Finance Advisors LLC raised its holdings in Richmond Mutual Bancorporation by 62,706.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,049 shares of the company’s stock valued at $149,000 after acquiring an additional 10,033 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Richmond Mutual Bancorporation in the third quarter valued at approximately $1,052,000. Finally, Valeo Financial Advisors LLC purchased a new stake in Richmond Mutual Bancorporation in the third quarter valued at $278,000. Institutional investors own 26.52% of the company’s stock.

Analysts Set New Price Targets

RMBI has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Richmond Mutual Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings downgraded shares of Richmond Mutual Bancorporation from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, Richmond Mutual Bancorporation has an average rating of “Buy”.

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.