Richmond Mutual Bancorporation (NASDAQ:RMBI) Trading Up 1.1% - Here's What Happened

Key Points

• Richmond Mutual Bancorporation shares rose by 1.1%, closing at $14.71, with a significant increase in trading volume compared to its average.
• Wall Street analysts have upgraded Richmond Mutual's rating from "sell" to "hold", indicating a positive outlook on the company's performance.
• The company announced a quarterly dividend of $0.15 per share, representing an annualized yield of 4.1% for shareholders of record.

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI - Get Free Report)'s share price was up 1.1% on Tuesday . The stock traded as high as $14.85 and last traded at $14.71. Approximately 34,247 shares changed hands during mid-day trading, an increase of 56% from the average daily volume of 21,969 shares. The stock had previously closed at $14.55.

Wall Street Analysts Forecast Growth

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

Richmond Mutual Bancorporation Trading Up 1.1%

The firm's fifty day moving average price is $13.95 and its 200 day moving average price is $13.45. The stock has a market capitalization of $153.43 million, a price-to-earnings ratio of 15.65 and a beta of 0.40.

Richmond Mutual Bancorporation (NASDAQ:RMBI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.26 EPS 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 for the quarter.

Richmond Mutual Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, September 4th. This represents a $0.60 dividend on an annualized basis and a yield of 4.1%. Richmond Mutual Bancorporation's dividend payout ratio is 63.83%.

Institutional Investors Weigh In On Richmond Mutual Bancorporation

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in shares of Richmond Mutual Bancorporation by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 93,208 shares of the company's stock valued at $1,319,000 after purchasing an additional 790 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 purchasing an additional 876 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Richmond Mutual Bancorporation in the 2nd quarter valued at approximately $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Richmond Mutual Bancorporation in the 2nd quarter valued at approximately $49,000. Finally, Bank of America Corp DE increased its position in shares of Richmond Mutual Bancorporation by 200.8% in the 2nd quarter. Bank of America Corp DE now owns 6,281 shares of the company's stock valued at $87,000 after purchasing an additional 4,193 shares during the last quarter. 26.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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