Rhinebeck Bancorp (NASDAQ:RBKB) Issues Earnings Results

Rhinebeck Bancorp (NASDAQ:RBKB) posted its quarterly earnings results on Thursday. The company reported $0.24 EPS for the quarter, Zacks reports. Rhinebeck Bancorp had a return on equity of 7.42% and a net margin of 13.20%.

Rhinebeck Bancorp Stock Up 2.9%

Rhinebeck Bancorp stock traded up $0.35 during trading on Thursday, reaching $12.39. 352,336 shares of the company’s stock were exchanged, compared to its average volume of 36,407. The company’s 50-day moving average is $16.58 and its two-hundred day moving average is $15.27. The firm has a market cap of $138.40 million, a price-to-earnings ratio of 13.62 and a beta of 0.15. Rhinebeck Bancorp has a 52-week low of $6.72 and a 52-week high of $12.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.93 and a current ratio of 0.93.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RBKB. Weiss Ratings upgraded shares of Rhinebeck Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Wall Street Zen upgraded shares of Rhinebeck Bancorp to a “hold” rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Rhinebeck Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in Rhinebeck Bancorp in the second quarter valued at approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Rhinebeck Bancorp in the second quarter valued at $29,000. Wells Fargo & Company MN grew 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in Rhinebeck Bancorp during the 2nd quarter valued at $75,000. Finally, Barclays PLC increased its stake in Rhinebeck Bancorp by 12.1% during the 4th 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. 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.