Rhinebeck Bancorp (NASDAQ:RBKB) Stock Price Down 2% - Here's What Happened

Key Points

• Rhinebeck Bancorp's stock price decreased by 2% during mid-day trading, with shares trading as low as $11.81 before last settling at $12.04.
• The company reported a quarterly earnings of $0.25 per share with a revenue of $13.09 million, but has a negative net margin of 10.08%.
• Pledging activity from institutional investors has increased, with ownership rising to 23.88% of the company's stock from multiple new stakes, including a $97,000 investment from the New York State Common Retirement Fund.

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) dropped 2% on Thursday . The company traded as low as $11.81 and last traded at $12.04. Approximately 10,763 shares were traded during mid-day trading, an increase of 64% from the average daily volume of 6,543 shares. The stock had previously closed at $12.28.

Rhinebeck Bancorp Price Performance

The firm has a market capitalization of $130.54 million, a P/E ratio of -21.77 and a beta of 0.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. The firm's 50 day simple moving average is $12.83 and its two-hundred day simple moving average is $11.63.

Rhinebeck Bancorp (NASDAQ:RBKB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.25 earnings per share for the quarter. The company had revenue of $13.09 million for the quarter. Rhinebeck Bancorp had a negative net margin of 10.08% and a positive return on equity of 5.58%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Rhinebeck Bancorp by 122.2% in the 2nd quarter. Geode Capital Management LLC now owns 87,643 shares of the company's stock valued at $1,028,000 after buying an additional 48,203 shares during the period. New York State Common Retirement Fund acquired a new stake in Rhinebeck Bancorp in the second quarter valued at approximately $97,000. Raymond James Financial Inc. acquired a new stake in Rhinebeck Bancorp in the second quarter valued at approximately $75,000. State of Wyoming purchased a new position in shares of Rhinebeck Bancorp during the 4th quarter valued at approximately $25,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Rhinebeck Bancorp during the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 23.88% of the company's stock.

Rhinebeck Bancorp Company Profile

Rhinebeck Bancorp, Inc operates as the bank holding company for Rhinebeck Bank that provides banking and financial products and services to consumer and commercial customers in the Hudson Valley region of New York. The company offers deposits, including non-interest-bearing demand, interest bearing demand, money market, commercial and personal checking, individual retirement, and saving accounts, as well as certificates of deposit.