Rhinebeck Bancorp (NASDAQ:RBKB) CEO Acquires 12,425 Shares of Stock

Key Points

• CEO Matthew James Smith purchased 12,425 Rhinebeck Bancorp shares at $12 each, investing $149,100 and increasing his ownership by 52.15% to 36,251 shares.
• RBKB shares rose 1.3% to $12.46, while the company reported quarterly EPS of $0.24 on revenue of $13.38 million, with a 12.99% net margin and 7.24% return on equity.
• Institutional investors own 23.88% of the stock, and analyst sentiment remains favorable: the shares carry a consensus “Buy” rating, despite one analyst raising its view to “Hold.”

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) CEO Matthew James Smith bought 12,425 shares of the stock in a transaction on Wednesday, July 22nd. The shares were acquired at an average cost of $12.00 per share, for a total transaction of $149,100.00. Following the purchase, the chief executive officer owned 36,251 shares in the company, valued at approximately $435,012. This represents a 52.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rhinebeck Bancorp Stock Up 1.3%

Shares of RBKB traded up $0.16 during trading hours on Tuesday, reaching $12.46. The company's stock had a trading volume of 59,906 shares, compared to its average volume of 40,546. The company has a 50 day moving average of $16.36 and a two-hundred day moving average of $15.28. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.07. The firm has a market cap of $194.51 million, a price-to-earnings ratio of 17.49 and a beta of 0.15. Rhinebeck Bancorp, Inc. has a 1-year low of $6.72 and a 1-year high of $12.85.

Rhinebeck Bancorp (NASDAQ:RBKB - Get Free Report) 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 firm had revenue of $13.38 million for the quarter.

Institutional Investors Weigh In On Rhinebeck Bancorp

A number of large investors have recently bought and sold shares of RBKB. Empowered Funds LLC increased its position 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 buying an additional 1,871 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Rhinebeck Bancorp by 14.6% during the 1st quarter. Renaissance Technologies LLC now owns 24,300 shares of the company's stock worth $375,000 after acquiring an additional 3,100 shares in the last quarter. Barclays PLC increased its holdings in shares of Rhinebeck Bancorp by 12.1% during the 4th quarter. Barclays PLC now owns 7,210 shares of the company's stock valued at $87,000 after acquiring an additional 778 shares during the last quarter. State Street Corp raised its stake in shares of Rhinebeck Bancorp by 7.9% in the 4th quarter. State Street Corp now owns 29,917 shares of the company's stock valued at $360,000 after acquiring an additional 2,202 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Rhinebeck Bancorp by 46.3% in 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 during the last quarter. 23.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings restated a "buy (b-)" rating on shares of Rhinebeck Bancorp in a research note on Tuesday, July 21st. Wall Street Zen raised Rhinebeck Bancorp to a "hold" rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

About Rhinebeck Bancorp

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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