Rhinebeck Bancorp, Inc. (NASDAQ:RBKB – Get Free Report) shares shot up 0.9% during trading on Friday . The company traded as high as $17.43 and last traded at $17.39. 146,030 shares changed hands during trading, an increase of 291% from the average daily volume of 37,395 shares. The stock had previously closed at $17.23.
Analysts Set New Price Targets
Separately, Weiss Ratings raised shares of Rhinebeck Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Rhinebeck Bancorp presently has an average rating of “Buy”.
View Our Latest Stock Report on Rhinebeck Bancorp
Rhinebeck Bancorp Price Performance
Rhinebeck Bancorp (NASDAQ:RBKB – Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.20 earnings per share (EPS) for the quarter. The firm had revenue of $12.66 million for the quarter. Rhinebeck Bancorp had a return on equity of 7.42% and a net margin of 13.20%.
Institutional Trading of Rhinebeck Bancorp
Several large investors have recently added to or reduced their stakes in RBKB. Geode Capital Management LLC raised its position 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. New York State Common Retirement Fund acquired a new stake in Rhinebeck Bancorp during the 2nd quarter worth about $97,000. Raymond James Financial Inc. acquired a new stake in Rhinebeck Bancorp during the 2nd quarter worth about $75,000. Alliancebernstein L.P. grew its stake in Rhinebeck Bancorp by 1.2% during the 3rd quarter. Alliancebernstein L.P. now owns 390,959 shares of the company’s stock valued at $4,441,000 after acquiring an additional 4,718 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in Rhinebeck Bancorp by 5.7% during the 3rd quarter. Bridgeway Capital Management LLC now owns 72,756 shares of the company’s stock valued at $827,000 after acquiring an additional 3,898 shares in the last quarter. 23.88% of the stock is owned by institutional investors and hedge funds.
About Rhinebeck Bancorp
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.
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