Is Richmond Mutual Bancorporation, Inc. overvalued or undervalued?

As of 3 October 2025, the valuation grade for Richmond Mutual Bancorporation, Inc. has moved from attractive to very attractive, indicating a positive shift in its perceived value. The company appears to be undervalued based on its financial metrics. Key ratios include a P/E ratio of 17, a Price to Book Value of 1.18, and an EV to EBITDA of 37.04, which suggest that the stock is trading at a reasonable price compared to its earnings and book value.
In comparison to its peers, Richmond Mutual Bancorporation's P/E ratio of 17 is higher than Alerus Financial Corp.'s 13.80 but lower than Arrow Financial Corp.'s 20.43, indicating a competitive positioning within the industry. Additionally, Capital Bancorp, Inc. has a very attractive valuation with a P/E of 11.92, further supporting the notion that Richmond may be undervalued. Over the past year, Richmond has returned 11.61%, which is lower than the S&P 500's 17.82%, suggesting that while the stock has performed well, it has not kept pace with the broader market.