Rhinebeck Bancorp (NASDAQ:RBKB) Stock Price Down 0.2% – Here’s What Happened

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) was down 0.2% on Thursday . The company traded as low as $16.24 and last traded at $16.33. Approximately 9,295 shares changed hands during trading, a decline of 29% from the average daily volume of 13,138 shares. The stock had previously closed at $16.37.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Rhinebeck Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Rhinebeck Bancorp presently has a consensus rating of “Buy”.

Rhinebeck Bancorp Stock Up 0.3%

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50-day moving average is $15.80 and its two-hundred day moving average is $14.01. The company has a market cap of $182.96 million, a P/E ratio of 18.00 and a beta of 0.16.

Rhinebeck Bancorp (NASDAQ:RBKB) last issued its earnings results on Thursday, April 23rd. The company reported $0.20 earnings per share (EPS) for the quarter. Rhinebeck Bancorp had a net margin of 13.20% and a return on equity of 7.42%. The company had revenue of $12.66 million for the quarter.

Institutional Investors Weigh In On Rhinebeck Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its stake 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 acquiring an additional 1,871 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Rhinebeck Bancorp by 14.6% during the 1st quarter. Renaissance Technologies LLC now owns 24,300 shares of the company’s stock worth $375,000 after acquiring an additional 3,100 shares during the last quarter. Barclays PLC boosted its stake in shares of 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 acquiring an additional 778 shares during the last quarter. State Street Corp boosted its stake in shares of Rhinebeck Bancorp by 7.9% during the 4th quarter. State Street Corp now owns 29,917 shares of the company’s stock worth $360,000 after acquiring an additional 2,202 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Rhinebeck Bancorp by 46.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,064 shares of the company’s stock worth $61,000 after acquiring an additional 1,602 shares during the last quarter. Hedge funds and other institutional investors own 23.88% of the company’s stock.

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.