Rhinebeck Bancorp (NASDAQ:RBKB) Trading Down 1.7% - Here's What Happened

Key Points

• Rhinebeck Bancorp stock decreased by 1.7%, closing at $12.80, with a trading volume significantly lower than its average.
• The company reported a negative net margin of 10.08%, despite a positive return on equity of 5.58%, with earnings per share at $0.25.
• Institutional investors have been actively increasing their holdings, with Alliancebernstein L.P. raising its position by 70.8% in the last quarter.

Shares of Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) dropped 1.7% during mid-day trading on Thursday . The company traded as low as $12.59 and last traded at $12.80. Approximately 2,906 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 8,576 shares. The stock had previously closed at $13.02.

Rhinebeck Bancorp Price Performance

The company has a market cap of $138.48 million, a PE ratio of -23.09 and a beta of 0.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50 day moving average of $12.29 and a 200-day moving average of $11.13.

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

Hedge Funds Weigh In On Rhinebeck Bancorp

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in Rhinebeck Bancorp by 122.2% in the 2nd quarter. Geode Capital Management LLC now owns 87,643 shares of the company's stock worth $1,028,000 after buying an additional 48,203 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Rhinebeck Bancorp during the 2nd quarter worth approximately $97,000. Raymond James Financial Inc. purchased a new stake in shares of Rhinebeck Bancorp during the 2nd quarter valued at approximately $75,000. Dimensional Fund Advisors LP raised its position in shares of Rhinebeck Bancorp by 24.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 22,704 shares of the company's stock valued at $219,000 after buying an additional 4,519 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Rhinebeck Bancorp during the 4th quarter valued at approximately $25,000. Hedge funds and other 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.