Rhinebeck Bancorp (NASDAQ:RBKB) Posts Quarterly Earnings Results

Rhinebeck Bancorp (NASDAQ:RBKB) released its quarterly earnings data on Thursday. The company reported $0.24 EPS for the quarter, Zacks reports. Rhinebeck Bancorp had a return on equity of 7.24% and a net margin of 12.99%.The business had revenue of $13.38 million during the quarter.

Rhinebeck Bancorp Stock Performance

Shares of Rhinebeck Bancorp stock opened at $12.43 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.93 and a current ratio of 0.93. Rhinebeck Bancorp has a 1 year low of $6.72 and a 1 year high of $12.85. The firm’s 50-day simple moving average is $16.43 and its 200-day simple moving average is $15.26. The firm has a market cap of $194.07 million, a PE ratio of 17.45 and a beta of 0.15.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RBKB shares. Wall Street Zen raised Rhinebeck Bancorp to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rhinebeck Bancorp in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Rhinebeck Bancorp

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new position in shares of Rhinebeck Bancorp in the 2nd quarter worth about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Rhinebeck Bancorp during the 2nd quarter worth $29,000. Wells Fargo & Company MN lifted its stake in Rhinebeck Bancorp by 46.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,064 shares of the company’s stock valued at $61,000 after buying an additional 1,602 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Rhinebeck Bancorp during the second quarter worth about $75,000. Finally, Barclays PLC lifted its position in Rhinebeck Bancorp by 12.1% in the 4th quarter. Barclays PLC now owns 7,210 shares of the company’s stock valued at $87,000 after purchasing an additional 778 shares during the last quarter. 23.88% of the stock is currently owned by 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.