Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) Sees Large Increase in Short Interest

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) saw a large growth in short interest in September. As of September 30th, there was short interest totaling 461,166 shares, a growth of 85.4% from the September 15th total of 248,765 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 190,349 shares, the short-interest ratio is presently 2.4 days.

Richmond Mutual Bancorporation Trading Down 0.8%

Shares of RMBI opened at $15.25 on Thursday. The firm has a market capitalization of $255.59 million, a price-to-earnings ratio of 12.70 and a beta of 0.34. The firm’s fifty day simple moving average is $15.68 and its 200-day simple moving average is $15.12. Richmond Mutual Bancorporation has a twelve month low of $12.77 and a twelve month high of $16.59.

Richmond Mutual Bancorporation (NASDAQ:RMBI) last issued its earnings results on Monday, July 27th. The company reported $0.22 EPS 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%.

Richmond Mutual Bancorporation Announces Dividend

The firm also recently declared 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 was Thursday, September 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 3.9%. Richmond Mutual Bancorporation’s dividend payout ratio (DPR) is currently 49.59%.

Analyst Ratings Changes

RMBI has been the topic of a number of recent research reports. Weiss Ratings lowered 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 downgraded shares of Richmond Mutual Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Insider Transactions at Richmond Mutual Bancorporation

In related news, Director Jeffrey Jackson acquired 2,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $15.92 per share, for a total transaction of $39,800.00. Following the purchase, the director owned 49,125 shares of the company’s stock, valued at $782,070. This represents a 5.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of Richmond Mutual Bancorporation

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings 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 buying an additional 10,033 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Richmond Mutual Bancorporation in the 3rd quarter valued at about $1,052,000. Valeo Financial Advisors LLC purchased a new position in shares of Richmond Mutual Bancorporation in the 3rd quarter valued at about $278,000. CX Institutional purchased a new position in shares of Richmond Mutual Bancorporation in the 3rd quarter valued at about $1,211,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Richmond Mutual Bancorporation in the 2nd quarter valued at about $56,000. 26.52% of the stock is owned by hedge funds and other institutional investors.

About Richmond Mutual Bancorporation

Richmond Mutual Bancorporation, Inc is the bank holding company for First Bank Richmond, a community-focused financial institution headquartered in Richmond, Indiana. Through its banking subsidiary, the company provides financial services to individuals, families and businesses in eastern Indiana and western Ohio.

First Bank Richmond offers a range of traditional banking products, including checking and savings accounts, certificates of deposit and other deposit services. Its lending activities include residential mortgages, home equity financing, consumer loans, commercial real estate loans and business lending.