Richmond Mutual Bancorporation (NASDAQ:RMBI) Shares Break Below Fifty Day Moving Average - Should You Sell?

Key Points

• RMBI fell below its 50-day moving average, trading as low as $15.36 and last at $15.38, versus the average of $15.60; the article also reports the stock was down 2.6%.
• Analyst views shifted in different directions: Wall Street Zen upgraded the shares from Sell to Hold, while Weiss Ratings lowered its rating from Buy (A-) to Buy (B+). MarketBeat reports an average rating of Buy, based on one analyst’s rating.
• The company reported quarterly EPS of $0.11 on revenue of $27.4 million and pays a quarterly dividend of $0.15, equivalent to a 3.9% annualized yield.

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI - Get Free Report) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $15.60 and traded as low as $15.36. Richmond Mutual Bancorporation shares last traded at $15.38, with a volume of 25,684 shares.

Analysts Set New Price Targets

RMBI has been the subject of several research analyst reports. Wall Street Zen raised shares of Richmond Mutual Bancorporation from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings cut shares of 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 company has an average rating of "Buy".

Richmond Mutual Bancorporation Stock Down 2.6%

The business has a 50-day moving average price of $15.60 and a two-hundred day moving average price of $14.86. The company has a market capitalization of $257.77 million, a price-to-earnings ratio of 16.02 and a beta of 0.34.

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

Richmond Mutual Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Richmond Mutual Bancorporation's dividend payout ratio (DPR) is 49.59%.

Insider Buying and Selling at Richmond Mutual Bancorporation

In other Richmond Mutual Bancorporation news, Director Jeffrey Jackson acquired 2,500 shares of Richmond Mutual Bancorporation stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $15.92 per share, for a total transaction of $39,800.00. Following the completion of the acquisition, the director directly 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 8.20% of the company's stock.

Institutional Investors Weigh In On Richmond Mutual Bancorporation

A number of institutional investors and hedge funds have recently made changes to their positions in RMBI. Northwestern Mutual Wealth Management Co. bought a new position in Richmond Mutual Bancorporation in the 2nd quarter valued at about $31,000. Allworth Financial LP bought a new stake in Richmond Mutual Bancorporation during the 2nd quarter worth approximately $51,000. Ameritas Advisory Services LLC bought a new stake in Richmond Mutual Bancorporation during the 2nd quarter worth approximately $56,000. Deutsche Bank AG bought a new stake in Richmond Mutual Bancorporation during the 2nd quarter worth approximately $132,000. Finally, Farther Finance Advisors LLC increased its holdings in Richmond Mutual Bancorporation by 62,706.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,049 shares of the company's stock worth $149,000 after purchasing an additional 10,033 shares in the last quarter. Institutional investors and hedge funds 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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