Nancy Koskey Patzwahl Buys 25,000 Shares of Rhinebeck Bancorp (NASDAQ:RBKB) Stock

Key Points

• Director Nancy Koskey Patzwahl purchased 25,000 Rhinebeck Bancorp shares at an average price of $11.94, investing $298,500 and increasing her position by more than 1,100% to 27,270 shares.
• Rhinebeck Bancorp reported quarterly EPS of $0.24 on $13.38 million in revenue, with a 12.99% net margin and 7.24% return on equity.
• RBKB shares rose 1.3% to $12.46, near their 52-week high of $12.85. Institutional investors own 23.88% of the stock, while analyst coverage reflects a consensus “Buy” rating.

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) Director Nancy Koskey Patzwahl bought 25,000 shares of Rhinebeck Bancorp stock in a transaction dated Wednesday, July 22nd. The shares were acquired at an average price of $11.94 per share, with a total value of $298,500.00. Following the completion of the purchase, the director owned 27,270 shares in the company, valued at approximately $325,603.80. The trade was a 1,101.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rhinebeck Bancorp Stock Up 1.3%

Shares of RBKB stock traded up $0.16 during mid-day trading on Tuesday, reaching $12.46. 59,906 shares of the company were exchanged, compared to its average volume of 40,546. 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 business's 50 day simple moving average is $16.36 and its 200 day simple moving average is $15.28. The company has a market capitalization of $194.51 million, a P/E ratio of 17.54 and a beta of 0.15. Rhinebeck Bancorp, Inc. has a fifty-two week low of $6.72 and a fifty-two week high of $12.85.

Rhinebeck Bancorp (NASDAQ:RBKB - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.24 earnings per share (EPS) for the quarter. Rhinebeck Bancorp had a net margin of 12.99% and a return on equity of 7.24%. The firm had revenue of $13.38 million for the quarter.

Hedge Funds Weigh In On Rhinebeck Bancorp

Several large investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC boosted its holdings in Rhinebeck Bancorp by 5.7% in the third quarter. Bridgeway Capital Management LLC now owns 72,756 shares of the company's stock worth $827,000 after purchasing an additional 3,898 shares during the period. 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 purchasing an additional 1,762 shares during the period. State Street Corp raised its holdings in shares of Rhinebeck Bancorp by 7.9% during the fourth quarter. State Street Corp now owns 29,917 shares of the company's stock worth $360,000 after purchasing an additional 2,202 shares during the period. New York State Common Retirement Fund bought a new position in shares of Rhinebeck Bancorp in the 2nd quarter worth about $97,000. Finally, Rhumbline Advisers lifted its position in shares of Rhinebeck Bancorp by 34.4% in the 3rd quarter. Rhumbline Advisers now owns 8,346 shares of the company's stock worth $95,000 after buying an additional 2,137 shares during the last quarter. 23.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RBKB. Wall Street Zen upgraded shares of Rhinebeck Bancorp to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rhinebeck Bancorp in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

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.

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