Rhinebeck Bancorp (NASDAQ:RBKB) EVP Michael Vitale Buys 4,834 Shares of Stock

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) EVP Michael Vitale purchased 4,834 shares of Rhinebeck Bancorp stock in a transaction on Thursday, August 6th. The stock was bought at an average cost of $12.35 per share, with a total value of $59,699.90. Following the completion of the acquisition, the executive vice president owned 22,414 shares in the company, valued at approximately $276,812.90. This trade represents a 27.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Michael Vitale also recently made the following trade(s):

• On Wednesday, July 22nd, Michael Vitale purchased 5,000 shares of Rhinebeck Bancorp stock. The stock was bought at an average price of $11.94 per share, for a total transaction of $59,700.00.

Rhinebeck Bancorp Stock Performance

NASDAQ:RBKB opened at $12.52 on Friday. The firm’s 50-day moving average is $15.81 and its 200-day moving average is $15.30. Rhinebeck Bancorp, Inc. has a 52-week low of $6.72 and a 52-week high of $12.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $195.44 million, a price-to-earnings ratio of 17.58 and a beta of 0.15.

Rhinebeck Bancorp (NASDAQ:RBKB) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.24 EPS for the quarter. Rhinebeck Bancorp had a net margin of 12.99% and a return on equity of 7.24%. The business had revenue of $13.38 million during the quarter.

Institutional Investors Weigh In On Rhinebeck Bancorp

Several large investors have recently modified their holdings of the stock. Focused Wealth Management Inc acquired a new position in shares of Rhinebeck Bancorp in the 2nd quarter worth approximately $173,000. Bank of New York Mellon Corp acquired a new stake in Rhinebeck Bancorp in the 2nd quarter valued at $246,000. Empowered Funds LLC grew its position in Rhinebeck Bancorp by 3.2% in the first quarter. Empowered Funds LLC now owns 59,627 shares of the company’s stock valued at $919,000 after acquiring an additional 1,871 shares during the period. Renaissance Technologies LLC grew its position in Rhinebeck Bancorp by 14.6% in the first quarter. Renaissance Technologies LLC now owns 24,300 shares of the company’s stock valued at $375,000 after acquiring an additional 3,100 shares during the period. Finally, Barclays PLC raised its stake in Rhinebeck Bancorp by 12.1% during the fourth quarter. Barclays PLC now owns 7,210 shares of the company’s stock worth $87,000 after acquiring an additional 778 shares in the last quarter. 23.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RBKB. Weiss Ratings downgraded Rhinebeck Bancorp from a “buy (b-)” rating to a “sell (e-)” rating in a research report on Tuesday. Wall Street Zen upgraded Rhinebeck Bancorp to a “hold” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Rhinebeck Bancorp presently has an average rating of “Sell”.

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.