Rhinebeck Bancorp (NASDAQ:RBKB) Trading Down 2% - What's Next?

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% during mid-day trading on Thursday . The stock traded as low as $11.81 and last traded at $12.04. Approximately 10,763 shares traded hands 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 Stock Performance

The company has a market cap of $133.64 million, a P/E ratio of -22.30 and a beta of 0.47. The company's 50-day moving average is $12.83 and its two-hundred day moving average is $11.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.25.

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

Hedge Funds Weigh In On Rhinebeck Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new position in Rhinebeck Bancorp during the second quarter worth about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Rhinebeck Bancorp during the second quarter worth about $29,000. State of Wyoming bought a new position in Rhinebeck Bancorp during the fourth quarter worth about $25,000. Raymond James Financial Inc. bought a new position in Rhinebeck Bancorp during the second quarter worth about $75,000. Finally, New York State Common Retirement Fund bought a new position in Rhinebeck Bancorp during the second quarter worth about $97,000. Institutional investors own 23.88% of the company's stock.

About Rhinebeck Bancorp

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.