Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) Short Interest Up 109.4% in June

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 181,739 shares, an increase of 109.4% from the June 15th total of 86,780 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily volume of 73,220 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its holdings in shares of Rhinebeck Bancorp by 46.3% during 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in Rhinebeck Bancorp in the second quarter valued at approximately $75,000. Rhumbline Advisers boosted its position in Rhinebeck Bancorp by 34.4% in the third quarter. Rhumbline Advisers now owns 8,346 shares of the company’s stock valued at $95,000 after buying an additional 2,137 shares in the last quarter. State Street Corp boosted its position in Rhinebeck Bancorp by 7.9% in the fourth quarter. State Street Corp now owns 29,917 shares of the company’s stock valued at $360,000 after buying an additional 2,202 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Rhinebeck Bancorp by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 92,371 shares of the company’s stock worth $1,110,000 after buying an additional 3,258 shares during the last quarter. Institutional investors own 23.88% of the company’s stock.

Rhinebeck Bancorp Price Performance

Shares of RBKB traded up $0.18 during midday trading on Friday, hitting $17.18. The company’s stock had a trading volume of 1,314 shares, compared to its average volume of 17,424. Rhinebeck Bancorp has a one year low of $9.41 and a one year high of $17.99. The company’s fifty day simple moving average is $16.57 and its two-hundred day simple moving average is $15.17. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $191.96 million, a price-to-earnings ratio of 18.88 and a beta of 0.15.

Rhinebeck Bancorp (NASDAQ:RBKB) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.20 earnings per share for the quarter. The business had revenue of $12.66 million during the quarter. Rhinebeck Bancorp had a return on equity of 7.42% and a net margin of 13.20%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RBKB shares. Weiss Ratings upgraded shares of Rhinebeck Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Rhinebeck Bancorp to a “hold” rating in a research report on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

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.