Insider Buying: Rhinebeck Bancorp (NASDAQ:RBKB) EVP Buys $59,699.90 in Stock

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) EVP Michael Vitale acquired 4,834 shares of Rhinebeck Bancorp stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $12.35 per share, with a total value of $59,699.90. Following the transaction, the executive vice president directly owned 22,414 shares in the company, valued at approximately $276,812.90. This trade represents a 27.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Michael Vitale also recently made the following trade(s):

• On Wednesday, July 22nd, Michael Vitale bought 5,000 shares of Rhinebeck Bancorp stock. The stock was bought at an average price of $11.94 per share, for a total transaction of $59,700.00.

Rhinebeck Bancorp Stock Performance

Shares of RBKB traded up $0.41 during midday trading on Thursday, hitting $12.57. 254,980 shares of the stock traded hands, compared to its average volume of 47,726. Rhinebeck Bancorp, Inc. has a 1-year low of $6.72 and a 1-year high of $12.85. The firm has a market capitalization of $196.32 million, a PE ratio of 17.66 and a beta of 0.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50 day moving average price is $15.88 and its two-hundred day moving average price is $15.30.

Rhinebeck Bancorp (NASDAQ:RBKB) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.24 earnings per share for the quarter. The business had revenue of $13.38 million for the quarter. Rhinebeck Bancorp had a net margin of 12.99% and a return on equity of 7.24%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBKB. Bank of New York Mellon Corp bought a new stake in shares of Rhinebeck Bancorp in the second quarter worth about $246,000. Empowered Funds LLC raised its holdings in Rhinebeck Bancorp by 3.2% during the 1st quarter. Empowered Funds LLC now owns 59,627 shares of the company’s stock worth $919,000 after buying an additional 1,871 shares during the period. Renaissance Technologies LLC lifted its stake in Rhinebeck Bancorp by 14.6% in the first quarter. Renaissance Technologies LLC now owns 24,300 shares of the company’s stock valued at $375,000 after buying an additional 3,100 shares in the last quarter. Barclays PLC boosted its holdings in shares of Rhinebeck Bancorp by 12.1% in the fourth quarter. Barclays PLC now owns 7,210 shares of the company’s stock valued at $87,000 after buying an additional 778 shares during the period. Finally, State Street Corp increased its position in shares of Rhinebeck Bancorp by 7.9% during the fourth quarter. State Street Corp now owns 29,917 shares of the company’s stock worth $360,000 after acquiring an additional 2,202 shares in the last quarter. 23.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Rhinebeck Bancorp to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings cut Rhinebeck Bancorp from a “buy (b-)” rating to a “sell (e-)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Rhinebeck Bancorp presently has a consensus rating of “Sell”.

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.