Rhinebeck Bancorp (NASDAQ:RBKB) EVP Acquires $59,699.90 in Stock

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) EVP Michael Vitale acquired 4,834 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $12.35 per share, with a total value of $59,699.90. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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 acquired at an average cost of $11.94 per share, for a total transaction of $59,700.00.

Rhinebeck Bancorp Stock Down 0.8%

NASDAQ:RBKB opened at $12.42 on Friday. The firm has a market capitalization of $193.91 million, a P/E ratio of 17.44 and a beta of 0.15. Rhinebeck Bancorp, Inc. has a 1-year low of $6.72 and a 1-year high of $12.85. The company’s fifty day moving average price is $15.74 and its 200-day moving average price is $15.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.93 and a quick ratio of 0.93.

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

Institutional Trading of Rhinebeck Bancorp

A number of hedge funds have recently added to or reduced their stakes in RBKB. JPMorgan Chase & Co. acquired a new stake in Rhinebeck Bancorp during the second quarter valued at $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Rhinebeck Bancorp in the second quarter worth about $29,000. Wells Fargo & Company MN raised its position in shares of Rhinebeck Bancorp by 46.3% in the fourth 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 period. Raymond James Financial Inc. purchased a new stake in shares of Rhinebeck Bancorp during the 2nd quarter worth about $75,000. Finally, Deutsche Bank AG purchased a new stake in shares of Rhinebeck Bancorp during the 2nd quarter worth about $79,000. 23.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RBKB shares. Weiss Ratings cut Rhinebeck Bancorp from a “buy (b-)” rating to a “sell (e-)” rating in a report on Tuesday. Wall Street Zen raised Rhinebeck Bancorp to a “hold” rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus 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.