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

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) shares fell 0.2% during mid-day trading on Friday . The stock traded as low as $12.57 and last traded at $12.60. 55,923 shares changed hands during trading, a decline of 60% from the average session volume of 139,603 shares. The stock had previously closed at $12.63.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RBKB shares. Weiss Ratings downgraded Rhinebeck Bancorp from a “buy (b-)” rating to a “sell (e-)” rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Rhinebeck Bancorp to a “hold” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Rhinebeck Bancorp Trading Down 0.2%

The company’s 50 day simple moving average is $14.53 and its 200 day simple moving average is $15.34. The firm has a market cap of $197.06 million, a price-to-earnings ratio of 17.69 and a beta of 0.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.94 and a quick ratio of 0.94.

Rhinebeck Bancorp (NASDAQ:RBKB) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $13.38 million for the quarter. Rhinebeck Bancorp had a return on equity of 7.20% and a net margin of 12.99%.

Insider Buying and Selling

In related news, Director Nancy Koskey Patzwahl purchased 25,000 shares of Rhinebeck Bancorp stock in a transaction on Wednesday, July 22nd. The shares were bought at an average price of $11.94 per share, with a total value of $298,500.00. Following the transaction, the director directly owned 27,270 shares of the company’s stock, valued at approximately $325,603.80. This trade represents a 1,101.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew James Smith purchased 12,425 shares of Rhinebeck Bancorp stock in a transaction on Wednesday, July 22nd. The stock was bought at an average cost of $12.00 per share, for a total transaction of $149,100.00. Following the transaction, the chief executive officer directly owned 36,251 shares in the company, valued at $435,012. This represents a 52.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 59,759 shares of company stock worth $716,125 in the last quarter. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Rhinebeck Bancorp

Several hedge funds have recently added to or reduced their stakes in RBKB. JPMorgan Chase & Co. purchased a new position in Rhinebeck Bancorp in the second quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Rhinebeck Bancorp in the 2nd quarter valued at approximately $29,000. Wells Fargo & Company MN raised its holdings in shares of Rhinebeck Bancorp by 46.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,064 shares of the company’s stock valued at $61,000 after purchasing an additional 1,602 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Rhinebeck Bancorp in the 2nd quarter valued at $75,000. Finally, Deutsche Bank AG purchased a new stake in shares of Rhinebeck Bancorp during the 2nd quarter worth $79,000. Institutional investors and hedge funds own 23.88% of the company’s stock.

Rhinebeck Bancorp Company Profile

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.