Rhinebeck Bancorp (NASDAQ:RBKB) Trading 2.6% Higher – Still a Buy?

Shares of Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) were up 2.6% during mid-day trading on Thursday . The stock traded as high as $16.29 and last traded at $16.21. Approximately 5,118 shares changed hands during trading, a decline of 63% from the average daily volume of 13,689 shares. The stock had previously closed at $15.80.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Rhinebeck Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Rhinebeck Bancorp Stock Performance

The stock has a market cap of $181.07 million, a PE ratio of 17.81 and a beta of 0.16. The company has a fifty day moving average price of $15.70 and a 200 day moving average price of $13.35. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.22.

Rhinebeck Bancorp (NASDAQ:RBKB) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.20 EPS for the quarter. The firm had revenue of $12.66 million for the quarter. Rhinebeck Bancorp had a return on equity of 7.50% and a net margin of 13.20%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Barclays PLC increased its holdings in shares of Rhinebeck Bancorp by 12.1% in the fourth quarter. Barclays PLC now owns 7,210 shares of the company’s stock worth $87,000 after buying an additional 778 shares during the period. Bridgeway Capital Management LLC increased its holdings in Rhinebeck Bancorp by 1.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 68,858 shares of the company’s stock valued at $808,000 after purchasing an additional 832 shares during the period. Wells Fargo & Company MN increased its holdings in Rhinebeck Bancorp by 46.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,064 shares of the company’s stock valued at $61,000 after purchasing an additional 1,602 shares during the period. Empowered Funds LLC increased its holdings in Rhinebeck Bancorp by 3.4% during 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 during the period. Finally, Rhumbline Advisers increased its holdings in Rhinebeck Bancorp by 34.4% during the 3rd quarter. Rhumbline Advisers now owns 8,346 shares of the company’s stock valued at $95,000 after purchasing an additional 2,137 shares during the period. 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.