Rhinebeck Bancorp, Inc. (NASDAQ:RBKB – Get Free Report) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 181,739 shares, a growth of 109.4% from the June 15th total of 86,780 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 73,220 shares, the short-interest ratio is presently 2.5 days.
Hedge Funds Weigh In On Rhinebeck Bancorp
Institutional investors and hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. grew its stake in shares of Rhinebeck Bancorp by 1.2% in the 3rd quarter. Alliancebernstein L.P. now owns 390,959 shares of the company’s stock valued at $4,441,000 after buying an additional 4,718 shares during the period. Geode Capital Management LLC raised its position in shares of Rhinebeck Bancorp by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 92,371 shares of the company’s stock valued at $1,110,000 after buying an additional 3,258 shares during the period. Bridgeway Capital Management LLC raised its position in shares of 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 buying an additional 3,898 shares during the period. Empowered Funds LLC lifted its holdings in Rhinebeck Bancorp by 3.2% in the first quarter. Empowered Funds LLC now owns 59,627 shares of the company’s stock valued at $919,000 after acquiring an additional 1,871 shares during the last quarter. Finally, State Street Corp lifted its holdings in Rhinebeck Bancorp by 7.9% in the fourth quarter. State Street Corp now owns 29,917 shares of the company’s stock valued at $360,000 after acquiring an additional 2,202 shares during the last quarter. 23.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently weighed in on RBKB. Weiss Ratings upgraded shares of Rhinebeck Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Rhinebeck Bancorp to a “hold” rating in a report on Sunday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Rhinebeck Bancorp currently has a consensus rating of “Buy”.
Rhinebeck Bancorp Trading Up 1.3%
Shares of NASDAQ RBKB traded up $0.22 during trading on Thursday, hitting $17.00. 16,046 shares of the company were exchanged, compared to its average volume of 17,545. Rhinebeck Bancorp has a 12-month low of $9.41 and a 12-month high of $17.99. 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 company has a fifty day moving average price of $16.55 and a 200-day moving average price of $15.13. The firm has a market capitalization of $189.89 million, a PE ratio of 18.68 and a beta of 0.15.
Rhinebeck Bancorp (NASDAQ:RBKB – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.20 earnings per share for the quarter. Rhinebeck Bancorp had a net margin of 13.20% and a return on equity of 7.42%. The firm had revenue of $12.66 million for the quarter.
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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