Richmond Mutual Bancorporation (NASDAQ:RMBI) Trading 1.3% Higher - Here's Why

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI - Get Free Report)'s stock price rose 1.3% during mid-day trading on Monday . The stock traded as high as $13.80 and last traded at $13.68. Approximately 13,330 shares traded hands during trading, a decline of 55% from the average daily volume of 29,709 shares. The stock had previously closed at $13.51.

Wall Street Analysts Forecast Growth

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

Richmond Mutual Bancorporation Stock Up 1.7%

The firm has a fifty day moving average of $13.71 and a 200-day moving average of $13.43. The firm has a market cap of $147.09 million, a P/E ratio of 15.03 and a beta of 0.40.

Richmond Mutual Bancorporation (NASDAQ:RMBI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.26 earnings per share (EPS) for the quarter. Richmond Mutual Bancorporation had a net margin of 10.83% and a return on equity of 7.07%. The company had revenue of $11.84 million for the quarter.

Richmond Mutual Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 4.2%. Richmond Mutual Bancorporation's payout ratio is presently 63.83%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RMBI. Geode Capital Management LLC increased its holdings in 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 during the last quarter. 683 Capital Management LLC acquired a new position in shares of Richmond Mutual Bancorporation during the 4th quarter worth about $335,000. Citadel Advisors LLC bought a new stake in shares of Richmond Mutual Bancorporation in the 4th quarter valued at about $311,000. Jane Street Group LLC increased its stake in shares of Richmond Mutual Bancorporation by 125.2% in the 1st 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 last quarter. Finally, Stifel Financial Corp raised its position in shares of Richmond Mutual Bancorporation by 14.6% in the 4th quarter. Stifel Financial Corp now owns 126,028 shares of the company's stock valued at $1,783,000 after acquiring an additional 16,044 shares during the period. 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.