Insider Buying: Rhinebeck Bancorp (NASDAQ:RBKB) Director Buys $298,500.00 in Stock

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) Director Nancy Koskey Patzwahl acquired 25,000 shares of Rhinebeck Bancorp stock in a transaction dated Wednesday, July 22nd. The stock was purchased at an average price of $11.94 per share, for a total transaction of $298,500.00. Following the completion of the acquisition, the director directly owned 27,270 shares in the company, valued at approximately $325,603.80. This represents a 1,101.32% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rhinebeck Bancorp Stock Performance

Shares of RBKB stock opened at $12.48 on Friday. The company has a market cap of $194.85 million, a P/E ratio of 17.52 and a beta of 0.15. The firm has a fifty day moving average price of $16.16 and a 200 day moving average price of $15.29. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.07. Rhinebeck Bancorp, Inc. has a 12 month low of $6.72 and a 12 month high of $12.85.

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

Institutional Trading of Rhinebeck Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its holdings in shares of Rhinebeck Bancorp by 3.4% in the first quarter. Empowered Funds LLC now owns 53,026 shares of the company’s stock valued at $522,000 after purchasing an additional 1,762 shares during the period. Geode Capital Management LLC raised its stake in shares of Rhinebeck Bancorp by 122.2% during the second quarter. Geode Capital Management LLC now owns 87,643 shares of the company’s stock worth $1,028,000 after purchasing an additional 48,203 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Rhinebeck Bancorp during the second quarter worth $25,000. New York State Common Retirement Fund acquired a new stake in shares of Rhinebeck Bancorp during the second quarter worth $97,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Rhinebeck Bancorp in the 2nd quarter valued at $29,000. 23.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RBKB shares. Wall Street Zen raised Rhinebeck Bancorp to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rhinebeck Bancorp in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

About Rhinebeck Bancorp

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.