Short Interest in Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) Grows By 263.8%

Richmond Mutual Bancorporation, Inc. (NASDAQ:RMBI) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 58,200 shares, an increase of 263.8% from the February 13th total of 16,000 shares. Based on an average trading volume of 21,600 shares, the days-to-cover ratio is currently 2.7 days. Approximately 0.6% of the shares of the company are short sold.

Richmond Mutual Bancorporation Price Performance

RMBI stock traded up $0.13 during trading on Friday, hitting $12.35. 12,169 shares of the company traded hands, compared to its average volume of 22,282. The company has a market cap of $134.77 million, a PE ratio of 13.50 and a beta of 0.61. Richmond Mutual Bancorporation has a 1 year low of $10.15 and a 1 year high of $15.15. The stock’s 50-day simple moving average is $13.23 and its 200 day simple moving average is $13.33.

Richmond Mutual Bancorporation (NASDAQ:RMBI) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.24 earnings per share (EPS) for the quarter. Richmond Mutual Bancorporation had a return on equity of 6.97% and a net margin of 10.99%.

Richmond Mutual Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.60 dividend on an annualized basis and a yield of 4.86%. This is a positive change from Richmond Mutual Bancorporation’s previous quarterly dividend of $0.14. Richmond Mutual Bancorporation’s payout ratio is 65.93%.

Hedge Funds Weigh In On Richmond Mutual Bancorporation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMBI. Stifel Financial Corp boosted its stake in Richmond Mutual Bancorporation by 19.9% during the third quarter. Stifel Financial Corp now owns 109,984 shares of the company’s stock worth $1,419,000 after buying an additional 18,254 shares during the last quarter. Barclays PLC raised its position in Richmond Mutual Bancorporation by 13.1% in the third quarter. Barclays PLC now owns 10,513 shares of the company’s stock valued at $136,000 after purchasing an additional 1,218 shares during the period. Geode Capital Management LLC raised its position in Richmond Mutual Bancorporation by 2.6% in the third quarter. Geode Capital Management LLC now owns 111,089 shares of the company’s stock valued at $1,433,000 after purchasing an additional 2,829 shares during the period. MassMutual Private Wealth & Trust FSB purchased a new stake in Richmond Mutual Bancorporation in the fourth quarter valued at $56,000. Finally, PNC Financial Services Group Inc. raised its position in Richmond Mutual Bancorporation by 230.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,979 shares of the company’s stock valued at $99,000 after purchasing an additional 4,866 shares during the period. Institutional investors and hedge funds own 26.52% of the company’s stock.

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.