Rhinebeck Bancorp (NASDAQ:RBKB) EVP Purchases $59,700.00 in Stock

Key Points

• Executive Vice President Michael Vitale bought 5,000 Rhinebeck Bancorp shares at an average price of $11.94, investing $59,700 and increasing his ownership by 39.75% to 17,580 shares.
• RBKB shares rose 1.3% to $12.46 in mid-day trading, while the company reported quarterly earnings of $0.24 per share on $13.38 million in revenue.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating; institutional investors own approximately 23.88% of the company.

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) EVP Michael Vitale acquired 5,000 shares of the stock in a transaction dated Wednesday, July 22nd. The stock was acquired at an average cost of $11.94 per share, with a total value of $59,700.00. Following the transaction, the executive vice president owned 17,580 shares of the company's stock, valued at approximately $209,905.20. This trade represents a 39.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Rhinebeck Bancorp Trading Up 1.3%

Shares of RBKB traded up $0.16 during mid-day trading on Tuesday, hitting $12.46. The company had a trading volume of 59,987 shares, compared to its average volume of 40,547. Rhinebeck Bancorp, Inc. has a 1-year low of $6.72 and a 1-year high of $12.85. The business's 50-day simple moving average is $16.36 and its 200-day simple moving average is $15.28. The stock has a market cap of $194.51 million, a PE ratio of 17.49 and a beta of 0.15. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.07.

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

Analysts Set New Price Targets

RBKB has been the subject of a number of research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rhinebeck Bancorp in a report on Tuesday, July 21st. Wall Street Zen raised shares of Rhinebeck Bancorp to a "hold" rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Institutional Trading of Rhinebeck Bancorp

Hedge funds have recently made changes to their positions in the company. Bridgeway Capital Management LLC boosted its stake in shares of Rhinebeck Bancorp by 1.2% in the second quarter. Bridgeway Capital Management LLC now owns 68,858 shares of the company's stock valued at $808,000 after purchasing an additional 832 shares during the period. Empowered Funds LLC increased its stake in Rhinebeck Bancorp by 3.4% during the 1st quarter. Empowered Funds LLC now owns 53,026 shares of the company's stock worth $522,000 after buying an additional 1,762 shares during the period. State Street Corp lifted its holdings in Rhinebeck Bancorp by 7.9% in the 4th quarter. State Street Corp now owns 29,917 shares of the company's stock worth $360,000 after buying an additional 2,202 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Rhinebeck Bancorp in the 2nd quarter worth $97,000. Finally, Rhumbline Advisers boosted its position in Rhinebeck Bancorp by 34.4% in the 3rd quarter. Rhumbline Advisers now owns 8,346 shares of the company's stock valued at $95,000 after buying an additional 2,137 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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