Rhinebeck Bancorp (NASDAQ:RBKB) Issues Quarterly Earnings Results

Rhinebeck Bancorp (NASDAQ:RBKB) issued its earnings results on Thursday. The company reported $0.24 earnings per share for the quarter, Zacks reports. Rhinebeck Bancorp had a net margin of 13.20% and a return on equity of 7.42%.

Rhinebeck Bancorp Stock Up 2.9%

NASDAQ:RBKB traded up $0.35 on Thursday, hitting $12.39. 352,336 shares of the company’s stock traded hands, compared to its average volume of 36,407. The company has a market cap of $138.40 million, a PE ratio of 13.62 and a beta of 0.15. Rhinebeck Bancorp has a 1 year low of $6.72 and a 1 year high of $12.85. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $16.58 and a 200-day moving average price of $15.27.

Wall Street Analysts Forecast Growth

RBKB has been the topic of several recent analyst reports. Weiss Ratings upgraded Rhinebeck Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Wall Street Zen raised 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, Rhinebeck Bancorp currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 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 worth $87,000 after buying an additional 778 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Rhinebeck Bancorp by 1.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 68,858 shares of the company’s stock valued at $808,000 after acquiring an additional 832 shares in the last quarter. Wells Fargo & Company MN increased its stake 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 last quarter. Empowered Funds LLC raised its holdings in shares of Rhinebeck Bancorp by 3.4% during the first quarter. Empowered Funds LLC now owns 53,026 shares of the company’s stock worth $522,000 after acquiring an additional 1,762 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Rhinebeck Bancorp by 34.4% during the third quarter. Rhumbline Advisers now owns 8,346 shares of the company’s stock worth $95,000 after acquiring an additional 2,137 shares in the last quarter. 23.88% of the stock is owned by hedge funds and other institutional investors.

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.