Michael Vitale Buys 4,834 Shares of Rhinebeck Bancorp (NASDAQ:RBKB) Stock

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) EVP Michael Vitale purchased 4,834 shares of Rhinebeck Bancorp stock in a transaction dated Thursday, August 6th. The shares were bought at an average price of $12.35 per share, for a total transaction of $59,699.90. Following the acquisition, the executive vice president owned 22,414 shares in the company, valued at approximately $276,812.90. This trade represents a 27.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Michael Vitale also recently made the following trade(s):

• On Wednesday, July 22nd, Michael Vitale acquired 5,000 shares of Rhinebeck Bancorp stock. The stock was purchased at an average cost of $11.94 per share, with a total value of $59,700.00.

Rhinebeck Bancorp Price Performance

Rhinebeck Bancorp stock opened at $12.42 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $15.74 and a 200 day moving average price of $15.28. Rhinebeck Bancorp, Inc. has a 12-month low of $6.72 and a 12-month high of $12.85. The stock has a market cap of $193.88 million, a P/E ratio of 17.44 and a beta of 0.15.

Rhinebeck Bancorp (NASDAQ:RBKB) last posted its earnings results on Thursday, July 23rd. The company reported $0.24 earnings per share for the quarter. Rhinebeck Bancorp had a net margin of 12.99% and a return on equity of 7.24%. The company had revenue of $13.38 million for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RBKB. BlackRock Inc. acquired a new stake in shares of Rhinebeck Bancorp during the second quarter valued at about $4,462,000. Deutsche Bank AG acquired a new position in shares of Rhinebeck Bancorp in the 2nd quarter worth approximately $79,000. Focused Wealth Management Inc acquired a new position in shares of Rhinebeck Bancorp in the 2nd quarter worth approximately $173,000. Bank of New York Mellon Corp purchased a new position in shares of Rhinebeck Bancorp during the 2nd quarter worth approximately $246,000. Finally, Empowered Funds LLC boosted its position in shares of Rhinebeck Bancorp by 3.2% during the 1st quarter. Empowered Funds LLC now owns 59,627 shares of the company’s stock worth $919,000 after purchasing an additional 1,871 shares during the period. Institutional investors and hedge funds own 23.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RBKB shares. Wall Street Zen upgraded Rhinebeck Bancorp to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings cut Rhinebeck Bancorp from a “buy (b-)” rating to a “sell (e-)” rating in a research note on Tuesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

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.