Richmond Mutual Bancorporation (NASDAQ:RMBI) Trading Down 1.2% - Here's Why

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 share price was down 1.2% on Wednesday . The company traded as low as $14.01 and last traded at $14.42. Approximately 12,443 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 15,930 shares. The stock had previously closed at $14.60.

Wall Street Analyst Weigh In

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

Richmond Mutual Bancorporation Trading Up 1.1%

The firm's 50-day moving average is $14.30 and its two-hundred day moving average is $13.61. The stock has a market cap of $156.14 million, a price-to-earnings ratio of 15.93 and a beta of 0.43.

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

Richmond Mutual Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $0.15 dividend. 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 Trading of Richmond Mutual Bancorporation

A number of hedge funds have recently bought and sold shares of RMBI. Jane Street Group LLC acquired a new stake in Richmond Mutual Bancorporation in the 4th quarter valued at about $191,000. Citadel Advisors LLC acquired a new stake in Richmond Mutual Bancorporation in the 4th quarter valued at about $311,000. Millennium Management LLC acquired a new stake in Richmond Mutual Bancorporation in the 4th quarter valued at about $216,000. Goldman Sachs Group Inc. raised its holdings in Richmond Mutual Bancorporation by 2.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 36,583 shares of the company's stock valued at $468,000 after acquiring an additional 876 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in Richmond Mutual Bancorporation in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 26.52% of the company's stock.

About Richmond Mutual Bancorporation

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.