Short Interest in Rhinebeck Bancorp Inc (NASDAQ:RBKB) Declines By 30.1%

Rhinebeck Bancorp Inc (NASDAQ:RBKB) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 5,100 shares, a decline of 30.1% from the July 31st total of 7,300 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 8,500 shares, the days-to-cover ratio is currently 0.6 days.

Several large investors have recently modified their holdings of the company. Maltese Capital Management LLC grew its position in shares of Rhinebeck Bancorp by 227.7% during the 2nd quarter. Maltese Capital Management LLC now owns 229,383 shares of the company’s stock worth $2,528,000 after buying an additional 159,383 shares during the period. EJF Capital LLC grew its position in shares of Rhinebeck Bancorp by 18.4% during the 2nd quarter. EJF Capital LLC now owns 659,018 shares of the company’s stock worth $7,262,000 after buying an additional 102,545 shares during the period. Vanguard Group Inc. grew its position in shares of Rhinebeck Bancorp by 31.4% during the 2nd quarter. Vanguard Group Inc. now owns 117,420 shares of the company’s stock worth $1,294,000 after buying an additional 28,087 shares during the period. BlackRock Inc. grew its holdings in Rhinebeck Bancorp by 73.0% during the second quarter. BlackRock Inc. now owns 15,197 shares of the company’s stock valued at $168,000 after purchasing an additional 6,415 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Rhinebeck Bancorp during the second quarter valued at approximately $54,000. Institutional investors own 13.19% of the company’s stock.

Shares of NASDAQ:RBKB traded down $0.22 during trading on Friday, hitting $10.53. 3,800 shares of the company’s stock were exchanged, compared to its average volume of 18,138. Rhinebeck Bancorp has a 1-year low of $10.50 and a 1-year high of $12.30. The firm has a 50-day moving average price of $10.80 and a two-hundred day moving average price of $11.26. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66.

Rhinebeck Bancorp (NASDAQ:RBKB) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.11 EPS for the quarter. The business had revenue of $9.35 million for the quarter.

Rhinebeck Bancorp Company Profile

Rhinebeck Bancorp, Inc provides banking services to customers in the central Hudson Valley region of New York State. The company offers deposits; automobile loans; commercial real estate loans, including multi-family real estate loans and commercial construction loans; commercial business loans; and one- to four-family residential real estate loans.

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