Empowered Funds LLC Invests $1.03 Million in Rhinebeck Bancorp, Inc. $RBKB

Empowered Funds LLC purchased a new stake in shares of Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 59,627 shares of the company’s stock, valued at approximately $1,032,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bridgeway Capital Management LLC raised its position in Rhinebeck Bancorp by 1.2% during the second 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 period. State Street Corp lifted its stake in shares of Rhinebeck Bancorp by 7.9% during the 4th quarter. State Street Corp now owns 29,917 shares of the company’s stock worth $360,000 after purchasing an additional 2,202 shares during the last quarter. New York State Common Retirement Fund purchased a new position in Rhinebeck Bancorp in the second quarter worth $97,000. Rhumbline Advisers increased its stake in Rhinebeck Bancorp by 34.4% during the 3rd quarter. Rhumbline Advisers now owns 8,346 shares of the company’s stock valued at $95,000 after purchasing an additional 2,137 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Rhinebeck Bancorp by 12.1% in the 4th quarter. Barclays PLC now owns 7,210 shares of the company’s stock valued at $87,000 after acquiring an additional 778 shares during the last quarter. 23.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RBKB shares. Weiss Ratings lowered Rhinebeck Bancorp from a “buy (b-)” rating to a “sell (e-)” rating in a research report on Tuesday, August 4th. Wall Street Zen raised Rhinebeck Bancorp to a “hold” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Insider Buying and Selling at Rhinebeck Bancorp

In other Rhinebeck Bancorp news, EVP Michael Vitale acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The stock was bought at an average cost of $11.94 per share, for a total transaction of $59,700.00. Following the completion of the purchase, the executive vice president directly owned 17,580 shares in the company, valued at $209,905.20. This represents a 39.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Suzanne Loughlin bought 12,500 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The stock was bought at an average cost of $11.93 per share, with a total value of $149,125.00. Following the transaction, the director directly owned 46,828 shares of the company’s stock, valued at approximately $558,658.04. This trade represents a 36.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 59,759 shares of company stock valued at $716,125. 3.00% of the stock is currently owned by corporate insiders.

Rhinebeck Bancorp Price Performance

Shares of NASDAQ:RBKB opened at $12.82 on Friday. The business’s 50 day simple moving average is $14.09 and its 200-day simple moving average is $15.29. The firm has a market capitalization of $200.45 million, a price-to-earnings ratio of 18.00 and a beta of 0.16. Rhinebeck Bancorp, Inc. has a 12 month low of $6.72 and a 12 month high of $13.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.94 and a quick ratio of 0.94.

Rhinebeck Bancorp (NASDAQ:RBKB) last announced its earnings results on Thursday, July 23rd. The company reported $0.24 EPS for the quarter. The firm had revenue of $13.38 million for the quarter. Rhinebeck Bancorp had a return on equity of 7.20% and a net margin of 12.99%.

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.