Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) Sees Large Decline in Short Interest

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 8,400 shares, a decline of 33.9% from the February 13th total of 12,700 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,200 shares, the short-interest ratio is currently 1.4 days.

Rhinebeck Bancorp Price Performance

RBKB stock traded down $0.25 during trading on Monday, reaching $10.19. 461 shares of the company were exchanged, compared to its average volume of 6,174. The company has a market cap of $113.03 million, a P/E ratio of -12.59 and a beta of 0.74. Rhinebeck Bancorp has a 52-week low of $7.30 and a 52-week high of $10.49. The stock’s 50 day moving average price is $10.01 and its 200 day moving average price is $9.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.94.

Rhinebeck Bancorp (NASDAQ:RBKB) last announced its earnings results on Thursday, January 30th. The company reported $0.05 earnings per share (EPS) for the quarter. Rhinebeck Bancorp had a negative net margin of 15.89% and a positive return on equity of 3.44%.

Hedge Funds Weigh In On Rhinebeck Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in Rhinebeck Bancorp by 5.3% during the third quarter. Empowered Funds LLC now owns 50,314 shares of the company’s stock worth $465,000 after acquiring an additional 2,546 shares during the last quarter. State of Wyoming acquired a new position in Rhinebeck Bancorp during the fourth quarter worth about $25,000. Geode Capital Management LLC raised its position in Rhinebeck Bancorp by 10.8% during the third quarter. Geode Capital Management LLC now owns 37,286 shares of the company’s stock worth $345,000 after acquiring an additional 3,637 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Rhinebeck Bancorp by 24.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,704 shares of the company’s stock valued at $219,000 after buying an additional 4,519 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Rhinebeck Bancorp by 70.8% in the fourth quarter. Alliancebernstein L.P. now owns 196,254 shares of the company’s stock valued at $1,898,000 after buying an additional 81,345 shares during the last quarter. Institutional investors and hedge funds own 23.88% of the company’s stock.

About Rhinebeck Bancorp

Rhinebeck Bancorp, Inc operates as the bank holding company for Rhinebeck Bank that provides banking and financial products and services to consumer and commercial customers in the Hudson Valley region of New York. The company offers deposits, including non-interest-bearing demand, interest bearing demand, money market, commercial and personal checking, individual retirement, and saving accounts, as well as certificates of deposit.