Richmond Mutual Bancorporation (NASDAQ:RMBI) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Richmond Mutual Bancorporation (NASDAQ: RMBI) from “Hold” to “Sell,” while Weiss Ratings upgraded it to “Buy (a-).” MarketBeat data lists the stock’s consensus rating as “Strong Buy.”
• RMBI shares opened at $15.26, with a $255.76 million market capitalization and a 12-month trading range of $12.77 to $16.59. In its latest quarter, the company reported $0.22 in EPS and $13.65 million in revenue.
• Director Jeffrey Jackson purchased 2,500 shares for approximately $39,800, increasing his ownership by 5.36%. Insiders own 8.20% of the company, while institutional investors hold 26.52%.

Richmond Mutual Bancorporation (NASDAQ:RMBI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, 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 investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Richmond Mutual Bancorporation has a consensus rating of "Strong Buy".

Richmond Mutual Bancorporation Trading Up 0.2%

Shares of RMBI stock opened at $15.26 on Friday. The stock has a market capitalization of $255.76 million, a price-to-earnings ratio of 12.61 and a beta of 0.31. Richmond Mutual Bancorporation has a 12-month low of $12.77 and a 12-month high of $16.59. The stock's 50-day moving average price is $15.76 and its 200-day moving average price is $14.95.

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

Insider Activity

In other Richmond Mutual Bancorporation news, Director Jeffrey Jackson bought 2,500 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $15.92 per share, for a total transaction of $39,800.00. Following the transaction, the director owned 49,125 shares of the company's stock, valued at $782,070. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.20% of the company's stock.

Institutional Investors Weigh In On Richmond Mutual Bancorporation

Several large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Richmond Mutual Bancorporation in the 2nd quarter worth approximately $31,000. Allworth Financial LP purchased a new stake in Richmond Mutual Bancorporation during the 2nd quarter valued at $51,000. Ameritas Advisory Services LLC bought a new stake in Richmond Mutual Bancorporation in the second quarter worth $56,000. Deutsche Bank AG bought a new stake in Richmond Mutual Bancorporation in the second quarter worth $132,000. Finally, HBK Sorce Advisory LLC bought a new stake in Richmond Mutual Bancorporation in the second quarter worth $159,000. 26.52% of the stock is owned by institutional investors.

About Richmond Mutual Bancorporation

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.

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