Rhinebeck Bancorp (NASDAQ:RBKB) Trading 2% Higher – Here’s Why

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) shot up 2% on Thursday . The company traded as high as $9.99 and last traded at $9.96. 8,531 shares traded hands during trading, a decline of 4% from the average session volume of 8,881 shares. The stock had previously closed at $9.76.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Rhinebeck Bancorp from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Rhinebeck Bancorp Stock Up 6.6%

The business has a 50 day simple moving average of $10.78 and a 200 day simple moving average of $11.73. The company has a market capitalization of $118.41 million, a price-to-earnings ratio of 23.09 and a beta of 0.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.95 and a quick ratio of 0.96.

Rhinebeck Bancorp (NASDAQ:RBKB) last announced its earnings results on Tuesday, October 28th. The company reported $0.25 EPS for the quarter. The company had revenue of $13.97 million during the quarter. Rhinebeck Bancorp had a return on equity of 6.47% and a net margin of 7.20%.

Institutional Investors Weigh In On Rhinebeck Bancorp

Large investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its stake in shares of Rhinebeck Bancorp by 1.2% in the third 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 in the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Rhinebeck Bancorp by 5.7% in the third quarter. Bridgeway Capital Management LLC now owns 72,756 shares of the company’s stock valued at $827,000 after acquiring an additional 3,898 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Rhinebeck Bancorp by 122.2% in the second 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 during the period. Empowered Funds LLC grew its stake in Rhinebeck Bancorp by 3.4% during the 1st quarter. Empowered Funds LLC now owns 53,026 shares of the company’s stock worth $522,000 after purchasing an additional 1,762 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Rhinebeck Bancorp by 34.4% during the 3rd quarter. Rhumbline Advisers now owns 8,346 shares of the company’s stock worth $95,000 after purchasing an additional 2,137 shares during the period. 23.88% of the stock is owned by hedge funds and other institutional investors.

About Rhinebeck Bancorp

Rhinebeck Bancorp, Inc operates as the bank holding company for Rhinebeck Bank that provides banking and financial products and services to consumer and commercial customers in the Hudson Valley region of New York. The company offers deposits, including non-interest-bearing demand, interest bearing demand, money market, commercial and personal checking, individual retirement, and saving accounts, as well as certificates of deposit.