257,759 Shares in Rhinebeck Bancorp, Inc. $RBKB Purchased by BlackRock Inc.

BlackRock Inc. purchased a new position in shares of Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 257,759 shares of the company's stock, valued at approximately $4,462,000. BlackRock Inc. owned about 1.65% of Rhinebeck Bancorp as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Rhinebeck Bancorp by 122.2% during the 2nd quarter. Geode Capital Management LLC now owns 87,643 shares of the company's stock worth $1,028,000 after acquiring an additional 48,203 shares during the period. Bank of New York Mellon Corp bought a new stake in Rhinebeck Bancorp in the 2nd quarter valued at $246,000. Focused Wealth Management Inc acquired a new stake in Rhinebeck Bancorp during the 2nd quarter valued at $173,000. New York State Common Retirement Fund acquired a new stake in Rhinebeck Bancorp during the 2nd quarter valued at $97,000. Finally, Raymond James Financial Inc. bought a new position in Rhinebeck Bancorp during the second quarter worth $75,000. Institutional investors own 23.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBKB. Weiss Ratings downgraded shares of Rhinebeck Bancorp from a "buy (b-)" rating to a "sell (e-)" rating in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Rhinebeck Bancorp to a "hold" rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of "Sell".

Rhinebeck Bancorp Trading Up 0.2%

Shares of Rhinebeck Bancorp stock opened at $12.82 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a 50-day moving average of $14.09 and a 200-day moving average of $15.29. Rhinebeck Bancorp, Inc. has a 52-week low of $6.72 and a 52-week high of $13.00. The stock has a market cap of $200.50 million, a PE ratio of 18.00 and a beta of 0.16.

Rhinebeck Bancorp (NASDAQ:RBKB - Get Free Report) last released its quarterly earnings results 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 7.20%. The business had revenue of $13.38 million for the quarter.

Insider Buying and Selling at Rhinebeck Bancorp

In other Rhinebeck Bancorp news, CEO Matthew Smith bought 12,425 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were bought at an average cost of $12.00 per share, with a total value of $149,100.00. Following the completion of the acquisition, the chief executive officer owned 36,251 shares of the company's stock, valued at $435,012. This trade represents a 52.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nancy Patzwahl purchased 25,000 shares of the company's stock in a transaction dated Wednesday, July 22nd. The stock was acquired at an average price of $11.94 per share, with a total value of $298,500.00. Following the completion of the transaction, the director owned 27,270 shares of the company's stock, valued at $325,603.80. This represents a 1,101.32% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 59,759 shares of company stock worth $716,125. 3.00% of the stock is currently owned by company insiders.

Rhinebeck Bancorp 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.

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