Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) Sees Significant Short-Term Interest Growth


Richmond Mutual Bancorporation, Inc. (NASDAQ: RMBI – Get a rating) benefited from strong growth in short-term interest rates in August. As of August 15, there were short interests totaling 29,800 shares, up 26.3% from the July 31 total of 23,600 shares. Based on an average daily trading volume of 8,900 shares, the days-to-cover ratio is currently 3.3 days. Approximately 0.3% of the company’s shares are sold short.

Richmond Mutual Bancorporation shares rise 0.8%

The RMBI traded at $0.11 during Friday’s midday session, hitting $14.24. 5,790 shares of the company were traded, against an average volume of 10,746. The company has a market capitalization of $168.26 million, a P/E ratio of 13.19 and a beta of 0.77. Richmond Mutual Bancorporation has a 1-year minimum of $13.01 and a 1-year maximum of $18.16. The company’s 50-day moving average price is $13.87 and its 200-day moving average price is $15.39.

Richmond Mutual Bancorporation (NASDAQ:RMBI – Get a rating) last announced its results on Thursday, July 21. The company reported EPS of $0.31 for the quarter. The company had revenue of $11.73 million for the quarter. Richmond Mutual Bancorporation had a return on equity of 7.51% and a net margin of 23.28%.

Richmond Mutual Bancorporation Announces Dividend


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The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Thursday, September 1 will receive a dividend of $0.10. This represents a dividend of $0.40 on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Wednesday, August 31. Richmond Mutual Bancorporation’s dividend payout ratio is 37.04%.

Institutional entries and exits

Hedge funds and other institutional investors have recently changed their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Richmond Mutual Bancorporation by 3.0% in Q1. Dimensional Fund Advisors LP now owns 55,884 shares of the company valued at $954,000 after purchasing an additional 1,636 shares during the period. State Street Corp increased its stake in Richmond Mutual Bancorporation by 23.9% in the 1st quarter. State Street Corp now owns 38,894 shares of the company worth $664,000 after purchasing an additional 7,494 shares during the period. FJ Capital Management LLC increased its stake in Richmond Mutual Bancorporation by 1,184.7% during the 1st quarter. FJ Capital Management LLC now owns 141,320 shares of the company worth $2,411,000 after purchasing an additional 130,320 shares during the period. Alliancebernstein LP increased its stake in Richmond Mutual Bancorporation by 3.7% during the 4th quarter. Alliancebernstein LP now owns 572,593 shares of the company worth $9,190,000 after purchasing an additional 20,673 shares during the period. Finally, UMB Bank NA MO acquired a new position in Richmond Mutual Bancorporation during Q4 worth approximately $161,000. 18.89% of the shares are held by institutional investors and hedge funds.

About Richmond Mutual Bancorporation

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Richmond Mutual Bancorporation, Inc operates as a holding company for First Bank Richmond which provides various banking services. The company accepts various deposits, including savings deposit accounts, NOW money market accounts and current accounts, and certificates of deposit. It 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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