Insider Buying: Rhinebeck Bancorp (NASDAQ:RBKB) CEO Purchases $149,100.00 in Stock

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) CEO Matthew James Smith bought 12,425 shares of the stock in a transaction on Wednesday, July 22nd. The stock was bought at an average price of $12.00 per share, for a total transaction of $149,100.00. Following the completion of the purchase, the chief executive officer directly owned 36,251 shares in the company, valued at approximately $435,012. The trade was a 52.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Rhinebeck Bancorp Trading Up 1.3%

NASDAQ:RBKB opened at $12.48 on Friday. Rhinebeck Bancorp, Inc. has a 12-month low of $6.72 and a 12-month high of $12.85. 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 stock’s 50 day simple moving average is $16.16 and its 200-day simple moving average is $15.29. The firm has a market cap of $194.85 million, a P/E ratio of 17.52 and a beta of 0.15.

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

Wall Street Analysts Forecast Growth

RBKB has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Rhinebeck Bancorp to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rhinebeck Bancorp in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Institutional Investors Weigh In On Rhinebeck Bancorp

Several institutional investors have recently made changes to their positions in RBKB. Geode Capital Management LLC increased its holdings in shares of Rhinebeck Bancorp by 122.2% in the 2nd quarter. Geode Capital Management LLC now owns 87,643 shares of the company’s stock valued at $1,028,000 after purchasing an additional 48,203 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Rhinebeck Bancorp during the 2nd quarter valued at approximately $97,000. Raymond James Financial Inc. purchased a new stake in shares of Rhinebeck Bancorp during the 2nd quarter worth approximately $75,000. Alliancebernstein L.P. grew its holdings in shares of Rhinebeck Bancorp by 1.2% in the 3rd quarter. Alliancebernstein L.P. now owns 390,959 shares of the company’s stock worth $4,441,000 after acquiring an additional 4,718 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in Rhinebeck Bancorp by 5.7% in the 3rd quarter. Bridgeway Capital Management LLC now owns 72,756 shares of the company’s stock valued at $827,000 after purchasing an additional 3,898 shares in the last quarter. 23.88% of the stock is currently owned by hedge funds and other institutional investors.

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.