Rhinebeck Bancorp (NASDAQ:RBKB) Shares Down 0.2% - Should You Sell?

Key Points

• Rhinebeck Bancorp shares fell 0.2% to $12.60 in midday trading, with volume down 60% from its average; the stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is negative: Weiss Ratings downgraded the stock to “sell,” while Wall Street Zen raised it to “hold,” leaving the overall MarketBeat rating at “Sell.”
• The company reported quarterly EPS of $0.24 on $13.38 million in revenue, while insiders bought 59,759 shares worth about $716,125 during the last quarter.

Shares of Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) dropped 0.2% during mid-day trading on Friday . The stock traded as low as $12.57 and last traded at $12.60. Approximately 55,923 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 139,603 shares. The stock had previously closed at $12.63.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen raised Rhinebeck Bancorp to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings cut Rhinebeck Bancorp from a "buy (b-)" rating to a "sell (e-)" rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Rhinebeck Bancorp currently has an average rating of "Sell".

Rhinebeck Bancorp Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.07. The stock's fifty day simple moving average is $14.53 and its 200 day simple moving average is $15.34. The company has a market cap of $197.06 million, a price-to-earnings ratio of 17.69 and a beta of 0.15.

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 return on equity of 7.20% and a net margin of 12.99%.The business had revenue of $13.38 million during the quarter.

Insider Buying and Selling

In related news, Director Suzanne Loughlin bought 12,500 shares of the business's stock in a transaction on Wednesday, July 22nd. The stock was acquired at an average cost of $11.93 per share, with a total value of $149,125.00. Following the purchase, the director directly owned 46,828 shares of the company's stock, valued at $558,658.04. The trade was a 36.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nancy Koskey Patzwahl purchased 25,000 shares of Rhinebeck Bancorp stock in a transaction dated Wednesday, July 22nd. The shares were bought at an average price of $11.94 per share, for a total transaction of $298,500.00. Following the acquisition, the director owned 27,270 shares in the company, valued at approximately $325,603.80. This trade represents a 1,101.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 59,759 shares of company stock valued at $716,125 in the last quarter. Corporate insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its stake in Rhinebeck Bancorp by 1.2% during the third quarter. Alliancebernstein L.P. now owns 390,959 shares of the company's stock worth $4,441,000 after buying an additional 4,718 shares during the period. BlackRock Inc. acquired a new stake in Rhinebeck Bancorp in the 2nd quarter valued at approximately $4,462,000. Geode Capital Management LLC raised its position in Rhinebeck Bancorp by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 92,371 shares of the company's stock valued at $1,110,000 after purchasing an additional 3,258 shares during the period. Bridgeway Capital Management LLC lifted its stake in Rhinebeck Bancorp by 5.7% during 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 in the last quarter. Finally, Empowered Funds LLC lifted its stake in Rhinebeck Bancorp by 3.2% during the first quarter. Empowered Funds LLC now owns 59,627 shares of the company's stock worth $919,000 after purchasing an additional 1,871 shares in the last quarter. 23.88% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source