Richmond Mutual Bancorporation (NASDAQ:RMBI) President Christopher Cook Acquires 1,500 Shares of Company Stock

Key Points

• President Christopher Cook bought 1,500 shares at an average price of $15.54, spending $23,310; his direct holdings rose 5.73% to 27,686 shares.
• RMBI shares rose 2.7% to $15.79 on Wednesday. The company reported quarterly EPS of $0.11 and revenue of $27.4 million.
• Richmond Mutual declared a quarterly dividend of $0.15 per share, equivalent to a 3.8% annualized yield; MarketBeat reports a consensus analyst rating of “Buy.”

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI - Get Free Report) President Christopher Cook bought 1,500 shares of the stock in a transaction on Wednesday, November 4th. The stock was purchased at an average price of $15.54 per share, for a total transaction of $23,310.00. Following the purchase, the president directly owned 27,686 shares of the company's stock, valued at approximately $430,240.44. This represents a 5.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Richmond Mutual Bancorporation Trading Up 2.7%

NASDAQ RMBI traded up $0.41 during trading on Wednesday, reaching $15.79. The company's stock had a trading volume of 4,544 shares, compared to its average volume of 49,423. The stock has a market capitalization of $264.72 million, a PE ratio of 16.46 and a beta of 0.34. Richmond Mutual Bancorporation, Inc. has a 1-year low of $12.77 and a 1-year high of $16.59. The business has a 50-day moving average price of $15.60 and a 200-day moving average price of $14.86.

Richmond Mutual Bancorporation (NASDAQ:RMBI - Get Free Report) last posted its earnings results on Friday, October 30th. The company reported $0.11 EPS for the quarter. Richmond Mutual Bancorporation had a net margin of 9.05% and a return on equity of 6.95%. The firm had revenue of $27.40 million for the quarter.

Richmond Mutual Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 3rd. Richmond Mutual Bancorporation's dividend payout ratio (DPR) is currently 49.59%.

Wall Street Analysts Forecast Growth

RMBI has been the topic of several research reports. Wall Street Zen upgraded Richmond Mutual Bancorporation from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings lowered Richmond Mutual Bancorporation from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

Hedge Funds Weigh In On Richmond Mutual Bancorporation

Several hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Richmond Mutual Bancorporation in the second quarter valued at $31,000. Allworth Financial LP bought a new stake in shares of Richmond Mutual Bancorporation in the second quarter valued at about $51,000. Ameritas Advisory Services LLC acquired a new position in shares of Richmond Mutual Bancorporation during the 2nd quarter worth approximately $56,000. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 4,390 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Richmond Mutual Bancorporation by 23.9% in the first 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 in the last quarter. Institutional investors own 26.52% of the company's stock.

Richmond Mutual Bancorporation Company Profile

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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