Richmond Mutual Bancorporation (NASDAQ:RMBI) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Richmond Mutual Bancorporation (NASDAQ:RMBI) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised Richmond Mutual Bancorporation from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Richmond Mutual Bancorporation Price Performance

RMBI stock opened at $15.11 on Friday. The stock has a market capitalization of $253.24 million, a price-to-earnings ratio of 12.49 and a beta of 0.31. The company has a 50-day moving average of $15.75 and a two-hundred day moving average of $14.97. Richmond Mutual Bancorporation has a 52-week low of $12.77 and a 52-week high of $16.59.

Richmond Mutual Bancorporation (NASDAQ:RMBI) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.22 EPS for the quarter. Richmond Mutual Bancorporation had a return on equity of 8.30% and a net margin of 13.00%.The business had revenue of $13.65 million for the quarter.

Richmond Mutual Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 4.0%. Richmond Mutual Bancorporation’s dividend payout ratio is 49.59%.

Insiders Place Their Bets

In related news, Director Jeffrey Jackson purchased 2,500 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $15.92 per share, for a total transaction of $39,800.00. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Richmond Mutual Bancorporation in the second quarter valued at about $8,749,000. Dimensional Fund Advisors LP grew its position in Richmond Mutual Bancorporation by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 120,515 shares of the company’s stock worth $1,635,000 after buying an additional 4,390 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Richmond Mutual Bancorporation during the second quarter valued at about $947,000. Susquehanna International Group LLP bought a new position in Richmond Mutual Bancorporation during the second quarter valued at about $875,000. Finally, Renaissance Technologies LLC increased its stake in Richmond Mutual Bancorporation by 23.9% during the first quarter. Renaissance Technologies LLC now owns 38,342 shares of the company’s stock valued at $520,000 after acquiring an additional 7,400 shares during the period. Institutional investors and hedge funds own 26.52% of the company’s stock.

Richmond Mutual Bancorporation Company Profile

Richmond Mutual Bancorporation, Inc is the bank holding company for First Bank Richmond, a community-oriented financial institution headquartered in Richmond, Indiana. The company’s banking operations serve individuals, families, farmers, businesses and other organizations through a range of traditional financial products and services.

First Bank Richmond offers deposit accounts, including checking, savings, money market accounts and certificates of deposit, along with residential mortgage, home equity, consumer, commercial real estate, commercial and industrial, and agricultural lending.