Short Interest in Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) Increases By 109.4%

Key Points

• Short interest in Rhinebeck Bancorp surged 109.4% in June to 181,739 shares as of June 30, with about 1.7% of the company’s stock now sold short. The short-interest ratio stands at 2.5 days based on average daily volume.
• Shares of RBKB traded up to $16.77 on Wednesday, near their 52-week high of $17.99. The stock remains above its 50-day and 200-day moving averages, and the company has a market cap of $187.32 million.
• Rhinebeck Bancorp recently reported quarterly EPS of $0.20 on revenue of $12.66 million, while analysts currently have an average rating of “Buy” on the stock. Institutional investors own about 23.88% of shares outstanding.

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 181,739 shares, a growth of 109.4% from the June 15th total of 86,780 shares. Currently, 1.7% of the company's stock are sold short. Based on an average daily volume of 73,220 shares, the short-interest ratio is currently 2.5 days.

Rhinebeck Bancorp Price Performance

Shares of Rhinebeck Bancorp stock traded up $0.15 on Wednesday, hitting $16.77. 3,342 shares of the company traded hands, compared to its average volume of 17,505. The firm's 50-day simple moving average is $16.54 and its 200 day simple moving average is $15.10. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.07. The company has a market cap of $187.32 million, a P/E ratio of 18.43 and a beta of 0.15. Rhinebeck Bancorp has a 12-month low of $9.41 and a 12-month high of $17.99.

Rhinebeck Bancorp (NASDAQ:RBKB - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.20 earnings per share for the quarter. The firm had revenue of $12.66 million during the quarter. Rhinebeck Bancorp had a net margin of 13.20% and a return on equity of 7.42%.

Institutional Investors Weigh In On Rhinebeck Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new position in shares of Rhinebeck Bancorp in the second quarter worth $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Rhinebeck Bancorp in the second quarter worth approximately $29,000. Wells Fargo & Company MN grew its holdings in Rhinebeck Bancorp by 46.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,064 shares of the company's stock valued at $61,000 after purchasing an additional 1,602 shares during the period. Raymond James Financial Inc. purchased a new stake in Rhinebeck Bancorp in the 2nd quarter worth approximately $75,000. Finally, Barclays PLC increased its stake in shares of Rhinebeck Bancorp by 12.1% in the fourth quarter. Barclays PLC now owns 7,210 shares of the company's stock worth $87,000 after purchasing an additional 778 shares in the last quarter. Hedge funds and other institutional investors own 23.88% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings raised shares of Rhinebeck Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, April 24th. Wall Street Zen raised shares of Rhinebeck Bancorp to a "hold" rating in a research report on Sunday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy".

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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