Richmond Mutual Bancorporation (NASDAQ:RMBI) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Richmond Mutual Bancorporation from “sell” to “hold,” while Weiss Ratings lowered its rating from “buy (a-)” to “buy (b+).” MarketBeat data still shows a consensus “Buy” rating.
• RMBI was trading at $15.86, near its 52-week high of $16.59, with a market capitalization of $265.8 million and a P/E ratio of 13.11.
• The company reported quarterly EPS of $0.11 on revenue of $27.4 million. Director Jeffrey Jackson also purchased 2,500 shares, while institutional investors hold 26.52% of the stock.

Richmond Mutual Bancorporation (NASDAQ:RMBI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of Richmond Mutual Bancorporation from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Richmond Mutual Bancorporation Stock Performance

RMBI opened at $15.86 on Friday. The company's 50-day simple moving average is $15.61 and its two-hundred day simple moving average is $14.85. The stock has a market capitalization of $265.80 million, a P/E ratio of 13.11 and a beta of 0.34. Richmond Mutual Bancorporation has a 52-week low of $12.77 and a 52-week high of $16.59.

Richmond Mutual Bancorporation (NASDAQ:RMBI - Get Free Report) last announced its earnings results on Friday, October 30th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $27.40 million for the quarter. Richmond Mutual Bancorporation had a return on equity of 8.30% and a net margin of 13.00%.

Insider Activity at Richmond Mutual Bancorporation

In other Richmond Mutual Bancorporation news, Director Jeffrey Jackson acquired 2,500 shares of the company's stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $15.92 per share, with a total value of $39,800.00. Following the completion of the purchase, the director directly owned 49,125 shares in the company, valued at approximately $782,070. The trade was a 5.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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