Richmond Mutual Bancorporation’s (RMBI) “Buy (B-)” Rating Reaffirmed at Weiss Ratings

Weiss Ratings reissued their buy (b-) rating on shares of Richmond Mutual Bancorporation (NASDAQ:RMBI) in a research note released on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Richmond Mutual Bancorporation from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Richmond Mutual Bancorporation Trading Up 3.8%

RMBI opened at $14.39 on Tuesday. Richmond Mutual Bancorporation has a 1-year low of $11.37 and a 1-year high of $15.24. The stock’s fifty day simple moving average is $14.37 and its 200 day simple moving average is $13.82. The stock has a market cap of $150.09 million, a PE ratio of 15.31 and a beta of 0.40.

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

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 annualized dividend and a yield of 4.2%. Richmond Mutual Bancorporation’s dividend payout ratio (DPR) is presently 63.83%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Richmond Mutual Bancorporation by 2.5% in the first quarter. Goldman Sachs Group Inc. now owns 36,583 shares of the company’s stock worth $468,000 after purchasing an additional 876 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Richmond Mutual Bancorporation in the second quarter worth $49,000. Geode Capital Management LLC increased its position 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 worth $3,138,000 after purchasing an additional 114,574 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Richmond Mutual Bancorporation by 381.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 91,061 shares of the company’s stock valued at $1,257,000 after buying an additional 72,130 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in Richmond Mutual Bancorporation in the second quarter valued at about $971,000. 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.