Rhinebeck Bancorp (NASDAQ:RBKB) Trading 0.1% Higher – Here’s Why

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB)’s stock price shot up 0.1% on Tuesday . The stock traded as high as $12.30 and last traded at $12.11. 5,057 shares traded hands during trading, a decline of 50% from the average session volume of 10,084 shares. The stock had previously closed at $12.10.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Rhinebeck Bancorp in a report on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Rhinebeck Bancorp presently has an average rating of “Hold”.

Rhinebeck Bancorp Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a fifty day simple moving average of $10.75 and a 200 day simple moving average of $11.79. The company has a market capitalization of $135.03 million, a PE ratio of 26.33 and a beta of 0.19.

Rhinebeck Bancorp (NASDAQ:RBKB) last issued its earnings results on Tuesday, October 28th. The company reported $0.25 earnings per share for the quarter. Rhinebeck Bancorp had a return on equity of 6.47% and a net margin of 7.20%.The business had revenue of $13.97 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings 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 valued at $522,000 after purchasing an additional 1,762 shares in the last quarter. Geode Capital Management LLC increased its holdings in Rhinebeck Bancorp by 122.2% during the second quarter. Geode Capital Management LLC now owns 87,643 shares of the company’s stock valued at $1,028,000 after buying an additional 48,203 shares during the period. JPMorgan Chase & Co. bought a new position in Rhinebeck Bancorp in the second quarter worth approximately $25,000. New York State Common Retirement Fund purchased a new stake in Rhinebeck Bancorp during the second quarter worth $97,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Rhinebeck Bancorp during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 23.88% of the company’s stock.

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.