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

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

Richmond Mutual Bancorporation Stock Performance

NASDAQ RMBI opened at $15.86 on Friday. The stock has a 50 day moving average price of $15.61 and a 200-day moving average price of $14.85. Richmond Mutual Bancorporation has a one year low of $12.77 and a one year high of $16.59. The company has a market capitalization of $265.80 million, a P/E ratio of 13.11 and a beta of 0.34.

Richmond Mutual Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders 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 dividend yield of 3.8%. The ex-dividend date was Thursday, September 3rd. Richmond Mutual Bancorporation’s dividend payout ratio is currently 49.59%.

Analyst Ratings Changes

RMBI has been the subject of a number of research reports. Weiss Ratings downgraded 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 raised Richmond Mutual Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Insiders Place Their Bets

In other Richmond Mutual Bancorporation news, Director Jeffrey Jackson purchased 2,500 shares of Richmond Mutual Bancorporation stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $15.92 per share, for a total transaction of $39,800.00. Following the completion of the transaction, the director 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 legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Richmond Mutual Bancorporation during the second quarter valued at approximately $8,749,000. Dimensional Fund Advisors LP lifted its stake in shares of Richmond Mutual Bancorporation by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 120,515 shares of the company’s stock valued at $1,635,000 after purchasing an additional 4,390 shares during the last quarter. CX Institutional purchased a new position in shares of Richmond Mutual Bancorporation in the 3rd quarter worth approximately $1,211,000. Sapient Capital LLC purchased a new position in shares of Richmond Mutual Bancorporation in the 3rd quarter worth approximately $1,052,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Richmond Mutual Bancorporation in the 2nd quarter worth approximately $947,000. Hedge funds and other institutional investors own 26.52% of the company’s stock.

About Richmond Mutual Bancorporation

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.