Richmond Mutual Bancorporation (NASDAQ:RMBI) Stock Price Up 1.1% - What's Next?

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 stock price was up 1.1% during trading on Tuesday . The company traded as high as $14.85 and last traded at $14.71. Approximately 34,247 shares were traded 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.

Analyst Ratings Changes

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 Price Performance

The company's fifty day simple moving average is $14.06 and its two-hundred day simple moving average is $13.46. The stock has a market cap of $154.26 million, a price-to-earnings ratio of 15.73 and a beta of 0.43.

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

Richmond Mutual Bancorporation Announces Dividend

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

Institutional Trading of Richmond Mutual Bancorporation

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in Richmond Mutual Bancorporation by 200.8% during the second quarter. Bank of America Corp DE now owns 6,281 shares of the company's stock worth $87,000 after purchasing an additional 4,193 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Richmond Mutual Bancorporation during the second quarter worth about $69,000. Gamco Investors INC. ET AL bought a new position in Richmond Mutual Bancorporation during the second quarter worth about $971,000. Arrowstreet Capital Limited Partnership boosted its position in Richmond Mutual Bancorporation by 381.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 91,061 shares of the company's stock worth $1,257,000 after purchasing an additional 72,130 shares during the period. Finally, New York State Common Retirement Fund bought a new position in Richmond Mutual Bancorporation during the second quarter worth about $102,000. Hedge funds and other institutional investors 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.