Rhinebeck Bancorp (NASDAQ:RBKB) Posts Earnings Results

Rhinebeck Bancorp (NASDAQ:RBKB) issued its quarterly earnings results on Thursday. The company reported $0.21 EPS for the quarter, FiscalAI reports. Rhinebeck Bancorp had a return on equity of 7.77% and a net margin of 13.24%.The company had revenue of $13.51 million for the quarter.

Rhinebeck Bancorp Trading Down 2.2%

Shares of NASDAQ:RBKB traded down $0.26 during midday trading on Friday, hitting $11.64. 4,119 shares of the stock were exchanged, compared to its average volume of 6,265. The business’s 50-day moving average price is $11.87 and its 200 day moving average price is $11.81. The stock has a market capitalization of $129.79 million, a price-to-earnings ratio of 12.65 and a beta of 0.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 0.95. Rhinebeck Bancorp has a 12 month low of $9.31 and a 12 month high of $13.99.

Institutional Trading of Rhinebeck Bancorp

Several institutional investors have recently added to or reduced their stakes in RBKB. Bridgeway Capital Management LLC raised its position in Rhinebeck Bancorp by 1.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 68,858 shares of the company’s stock valued at $808,000 after purchasing an additional 832 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Rhinebeck Bancorp by 3.4% in the 1st quarter. Empowered Funds LLC now owns 53,026 shares of the company’s stock worth $522,000 after purchasing an additional 1,762 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Rhinebeck Bancorp by 34.4% in the third quarter. Rhumbline Advisers now owns 8,346 shares of the company’s stock worth $95,000 after acquiring an additional 2,137 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Rhinebeck Bancorp during the second quarter valued at $25,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Rhinebeck Bancorp in the 2nd quarter worth about $29,000. 23.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rhinebeck Bancorp in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Rhinebeck Bancorp Company Profile

Rhinebeck Bancorp, Inc (NASDAQ: RBKB) is the bank holding company for Rhinebeck Bank, a community-focused financial institution headquartered in Rhinebeck, New York. Through its subsidiary, the company offers a full range of banking services including personal checking and savings accounts, business deposit products, residential mortgage lending and consumer loans. Rhinebeck Bancorp leverages its local presence to provide tailored financial solutions and responsive customer service to individuals and small businesses throughout the Hudson Valley region.

The origins of Rhinebeck Bank trace back to the late 19th century, reflecting more than a century of service to Ulster, Dutchess and neighboring counties.