Richmond Mutual Bancorporation (NASDAQ:RMBI) Stock: Insider Christopher Cook Buys 1,500 Shares

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

Richmond Mutual Bancorporation Stock Down 0.9%

Shares of Richmond Mutual Bancorporation stock opened at $15.68 on Friday. The company has a market capitalization of $262.78 million, a price-to-earnings ratio of 16.33 and a beta of 0.34. Richmond Mutual Bancorporation, Inc. has a 12-month low of $12.77 and a 12-month high of $16.59. The firm’s 50-day moving average price is $15.59 and its two-hundred day moving average price is $14.88.

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

Richmond Mutual Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.15 per share. 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 3.8%. Richmond Mutual Bancorporation’s dividend payout ratio is 62.50%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RMBI. Weiss Ratings lowered Richmond Mutual Bancorporation from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 2nd. Wall Street Zen upgraded Richmond Mutual Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Hedge Funds Weigh In On Richmond Mutual Bancorporation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. purchased a new stake in Richmond Mutual Bancorporation during the second quarter valued at $31,000. Allworth Financial LP purchased a new position in Richmond Mutual Bancorporation in the second quarter worth about $51,000. Ameritas Advisory Services LLC purchased a new position in Richmond Mutual Bancorporation in the second quarter worth about $56,000. Dimensional Fund Advisors LP boosted its position in Richmond Mutual Bancorporation by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 120,515 shares of the company’s stock worth $1,635,000 after purchasing an additional 4,390 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Richmond Mutual Bancorporation by 23.9% during the 1st quarter. Renaissance Technologies LLC now owns 38,342 shares of the company’s stock valued at $520,000 after purchasing an additional 7,400 shares during the period. 26.52% of the stock is currently owned by hedge funds and other institutional investors.

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.