Sapient Capital LLC Buys 70,778 Shares of Richmond Mutual Bancorporation, Inc. $RMBI

Key Points

• Sapient Capital LLC acquired 70,778 RMBI shares valued at approximately $1.05 million, representing about 0.42% of Richmond Mutual Bancorporation. Institutional investors and hedge funds collectively own 26.52% of the stock.
• Director Jeffrey Jackson purchased 2,500 shares for $39,800, increasing his position by 5.36%; corporate insiders own 8.20% of the company.
• RMBI reported quarterly earnings of $0.22 per share on $13.65 million in revenue and maintains a quarterly dividend of $0.15, or $0.60 annually, yielding about 3.9%. The stock has a consensus “Buy” rating, although one analyst recently downgraded it to “Sell.”

Sapient Capital LLC bought a new stake in Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 70,778 shares of the company's stock, valued at approximately $1,052,000. Sapient Capital LLC owned approximately 0.42% of Richmond Mutual Bancorporation as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in Richmond Mutual Bancorporation during the second quarter worth about $31,000. Allworth Financial LP purchased a new stake in Richmond Mutual Bancorporation in the 2nd quarter valued at approximately $51,000. Ameritas Advisory Services LLC purchased a new stake in Richmond Mutual Bancorporation in the 2nd quarter valued at approximately $56,000. Dimensional Fund Advisors LP increased its position in Richmond Mutual Bancorporation by 3.8% during the 1st 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 period. Finally, Renaissance Technologies LLC increased its position in Richmond Mutual Bancorporation by 23.9% during the 1st quarter. Renaissance Technologies LLC now owns 38,342 shares of the company's stock worth $520,000 after purchasing an additional 7,400 shares during the period. 26.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Richmond Mutual Bancorporation

In other news, Director Jeffrey Jackson purchased 2,500 shares of the company's stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $15.92 per share, for a total transaction of $39,800.00. Following the completion of the transaction, the director directly owned 49,125 shares in the company, valued at $782,070. This represents a 5.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 8.20% of the stock is currently owned by corporate insiders.

Richmond Mutual Bancorporation Price Performance

Shares of NASDAQ:RMBI opened at $15.36 on Friday. The business's 50 day simple moving average is $15.71 and its 200-day simple moving average is $15.07. The firm has a market capitalization of $257.43 million, a price-to-earnings ratio of 12.69 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.

Richmond Mutual Bancorporation (NASDAQ:RMBI - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $0.22 earnings per share for the quarter. The firm 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%.

Richmond Mutual Bancorporation Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.9%. Richmond Mutual Bancorporation's dividend payout ratio is 49.59%.

Analysts Set New Price Targets

RMBI has been the subject of several recent analyst reports. Weiss Ratings cut Richmond Mutual Bancorporation from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, October 2nd. Wall Street Zen lowered Richmond Mutual Bancorporation from a "hold" rating to a "sell" rating in a report on Saturday, September 26th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Richmond Mutual Bancorporation currently has a consensus rating of "Buy".

About Richmond Mutual Bancorporation

Richmond Mutual Bancorporation, Inc is the bank holding company for First Bank Richmond, a community-focused financial institution headquartered in Richmond, Indiana. Through its banking subsidiary, the company provides financial services to individuals, families and businesses in eastern Indiana and western Ohio.

First Bank Richmond offers a range of traditional banking products, including checking and savings accounts, certificates of deposit and other deposit services. Its lending activities include residential mortgages, home equity financing, consumer loans, commercial real estate loans and business lending.

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