Rhinebeck Bancorp (NASDAQ:RBKB) Announces Earnings Results

Key Points

• Rhinebeck Bancorp reported quarterly earnings of $0.24 per share, with a return on equity of 7.42% and a net margin of 13.20%.
• The stock rose to $12.39 on Thursday amid heavy trading volume, above its 12-month low but still below the recent 52-week high of $12.85.
• Analyst sentiment was generally positive, with an average rating of “Buy”; meanwhile, institutional investors held 23.88% of the company’s shares.

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

Rhinebeck Bancorp Price Performance

Shares of RBKB stock traded up $0.35 during trading hours on Thursday, hitting $12.39. The company's stock had a trading volume of 352,336 shares, compared to its average volume of 36,407. 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 business has a fifty day moving average of $16.58 and a 200-day moving average of $15.27. Rhinebeck Bancorp has a twelve month low of $6.72 and a twelve month high of $12.85. The stock has a market cap of $138.40 million, a price-to-earnings ratio of 13.62 and a beta of 0.15.

Analyst Ratings Changes

Several equities research analysts have commented on RBKB shares. Weiss Ratings upgraded shares of Rhinebeck Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Rhinebeck Bancorp to a "hold" rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy".

Hedge Funds Weigh In On Rhinebeck Bancorp

Several hedge funds have recently bought and sold shares of RBKB. JPMorgan Chase & Co. purchased a new stake in shares of Rhinebeck Bancorp in the second quarter valued at $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Rhinebeck Bancorp during the second quarter valued at $29,000. Wells Fargo & Company MN increased its position in Rhinebeck Bancorp by 46.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,064 shares of the company's stock worth $61,000 after purchasing an additional 1,602 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Rhinebeck Bancorp in the 2nd quarter valued at about $75,000. Finally, Barclays PLC raised its stake in Rhinebeck Bancorp by 12.1% in the 4th quarter. Barclays PLC now owns 7,210 shares of the company's stock valued at $87,000 after purchasing an additional 778 shares during the last quarter. Hedge funds and other institutional investors own 23.88% of the company's stock.

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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