Richmond Mutual Bancorporation (NASDAQ:RMBI) Stock Price Down 1.2% - Here's What Happened

Key Points

• Richmond Mutual Bancorporation's stock price decreased by 1.2% to $14.42 amid low trading volume, significantly below its daily average.
• Wall Street analysts recently upgraded the stock's rating from "sell" to "hold", indicating a more favorable outlook for investors.
• The company declared a quarterly dividend of $0.15 per share, which is projected to yield 4.2% annually.

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI - Get Free Report)'s stock price traded down 1.2% during mid-day trading on Wednesday . The stock traded as low as $14.01 and last traded at $14.42. 12,443 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 15,930 shares. The stock had previously closed at $14.60.

Analyst Ratings Changes

Separately, Wall Street Zen raised Richmond Mutual Bancorporation from a "sell" rating to a "hold" rating in a report on Sunday, July 13th.

Richmond Mutual Bancorporation Trading Up 1.1%

The firm has a market cap of $156.14 million, a PE ratio of 15.93 and a beta of 0.43. The company's 50 day moving average price is $14.30 and its two-hundred day moving average price is $13.63.

Richmond Mutual Bancorporation (NASDAQ:RMBI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $11.84 million for the quarter. Richmond Mutual Bancorporation had a net margin of 10.83% and a return on equity of 7.10%.

Richmond Mutual Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.60 dividend on an annualized basis and a yield of 4.0%. Richmond Mutual Bancorporation's dividend payout ratio is presently 63.83%.

Institutional Investors Weigh In On Richmond Mutual Bancorporation

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Richmond Mutual Bancorporation by 101.6% in the second quarter. Geode Capital Management LLC now owns 227,309 shares of the company's stock valued at $3,138,000 after purchasing an additional 114,574 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Richmond Mutual Bancorporation by 381.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 91,061 shares of the company's stock worth $1,257,000 after buying an additional 72,130 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Richmond Mutual Bancorporation in the 2nd quarter worth about $971,000. Citadel Advisors LLC acquired a new stake in shares of Richmond Mutual Bancorporation in the fourth quarter valued at about $311,000. Finally, Jane Street Group LLC grew its stake in Richmond Mutual Bancorporation by 125.2% in the first quarter. Jane Street Group LLC now owns 30,332 shares of the company's stock valued at $388,000 after acquiring an additional 16,864 shares during the period. 26.52% of the stock is currently owned by institutional investors.

Richmond Mutual Bancorporation Company Profile

Richmond Mutual Bancorporation, Inc operates as the bank holding company for First Bank Richmond that provides various banking services. It accepts various deposits, including savings deposit accounts, money market accounts, NOW and demand accounts, and certificates of deposit. The company also offers a range of lending products, such as multi-family and commercial real estate loans, commercial and industrial loans, construction and development loans, residential real estate loans, and consumer loans.