Rhinebeck Bancorp, Inc. (NASDAQ:RBKB – Get Free Report) shares were down 0.2% on Friday . The stock traded as low as $12.57 and last traded at $12.60. 55,923 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 139,603 shares. The stock had previously closed at $12.63.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on RBKB shares. Wall Street Zen upgraded shares of Rhinebeck Bancorp to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings downgraded shares of Rhinebeck Bancorp from a “buy (b-)” rating to a “sell (e-)” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.
Get Our Latest Analysis on RBKB
Rhinebeck Bancorp Stock Down 0.2%
Rhinebeck Bancorp (NASDAQ:RBKB – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.24 earnings per share for the quarter. The firm had revenue of $13.38 million for the quarter. Rhinebeck Bancorp had a net margin of 12.99% and a return on equity of 7.20%.
Insider Buying and Selling at Rhinebeck Bancorp
In other Rhinebeck Bancorp news, CEO Matthew James Smith bought 12,425 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The shares were acquired at an average cost of $12.00 per share, for a total transaction of $149,100.00. Following the transaction, the chief executive officer owned 36,251 shares in the company, valued at approximately $435,012. The trade was a 52.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nancy Koskey Patzwahl bought 25,000 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The stock was acquired at an average cost of $11.94 per share, for a total transaction of $298,500.00. Following the purchase, the director owned 27,270 shares of the company’s stock, valued at $325,603.80. This trade represents a 1,101.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 59,759 shares of company stock valued at $716,125 over the last quarter. 3.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Rhinebeck Bancorp
Large investors have recently modified their holdings of the stock. 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 worth $522,000 after buying an additional 1,762 shares in the last quarter. Geode Capital Management LLC grew its position in Rhinebeck Bancorp by 122.2% in the second quarter. Geode Capital Management LLC now owns 87,643 shares of the company’s stock valued at $1,028,000 after acquiring an additional 48,203 shares during the period. JPMorgan Chase & Co. acquired a new position in Rhinebeck Bancorp during the second quarter worth $25,000. New York State Common Retirement Fund acquired a new position in Rhinebeck Bancorp during the second quarter worth $97,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Rhinebeck Bancorp during the second quarter valued at $29,000. 23.88% of the stock is currently owned by institutional investors.
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.
Read More
- Five stocks we like better than Rhinebeck Bancorp
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Receive News & Ratings for Rhinebeck Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rhinebeck Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
