Insider Buying: Richmond Mutual Bancorporation (NASDAQ:RMBI) Director Purchases 1,500 Shares of Stock

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) Director E. Michael Blum acquired 1,500 shares of Richmond Mutual Bancorporation stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $14.36 per share, with a total value of $21,540.00. Following the completion of the purchase, the director owned 44,185 shares of the company’s stock, valued at approximately $634,496.60. This represents a 3.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Richmond Mutual Bancorporation Trading Down 2.0%

Shares of RMBI traded down $0.29 during trading hours on Monday, reaching $14.23. 39,491 shares of the stock traded hands, compared to its average volume of 27,984. The company has a market cap of $149.42 million, a P/E ratio of 11.38 and a beta of 0.33. The company’s 50-day moving average price is $14.31 and its two-hundred day moving average price is $14.04. Richmond Mutual Bancorporation, Inc. has a 52-week low of $12.77 and a 52-week high of $16.03.

Richmond Mutual Bancorporation (NASDAQ:RMBI) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.28 earnings per share (EPS) for the quarter. The business had revenue of $12.74 million during the quarter. Richmond Mutual Bancorporation had a return on equity of 8.80% and a net margin of 13.56%.

Richmond Mutual Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. Richmond Mutual Bancorporation’s dividend payout ratio (DPR) is 48.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of Richmond Mutual Bancorporation by 108.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,248 shares of the company’s stock worth $46,000 after acquiring an additional 1,692 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Richmond Mutual Bancorporation by 30,850.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,333 shares of the company’s stock valued at $60,000 after purchasing an additional 4,319 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Richmond Mutual Bancorporation in the 2nd quarter worth about $69,000. Russell Investments Group Ltd. purchased a new stake in Richmond Mutual Bancorporation in the 3rd quarter worth about $74,000. Finally, Bank of America Corp DE lifted its stake in Richmond Mutual Bancorporation by 200.8% in the second quarter. Bank of America Corp DE now owns 6,281 shares of the company’s stock worth $87,000 after purchasing an additional 4,193 shares during the last quarter. 26.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMBI. Wall Street Zen raised shares of Richmond Mutual Bancorporation to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Richmond Mutual Bancorporation in a report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

About Richmond Mutual Bancorporation

Richmond Mutual Bancorporation is the bank holding company for The Richmond Savings Bank, a mutual savings institution chartered in New Hampshire. Through its subsidiary, the company offers a full range of deposit and loan products to individuals, families and small businesses. Its core services include checking and savings accounts, money market accounts, certificates of deposit and consumer lending solutions such as residential mortgages, home equity lines of credit and personal installment loans.