Key Points
- Executive insider buying: EVP Michael Vitale purchased 4,834 Rhinebeck Bancorp shares for approximately $59,700 at $12.35 each, increasing his direct ownership by 27.5% to 22,414 shares. He also bought 5,000 shares in July.
- Latest financial results: Rhinebeck Bancorp reported quarterly earnings of $0.24 per share on $13.38 million in revenue, with a 12.99% net margin and 7.24% return on equity.
- Investor sentiment remains weak: Weiss Ratings downgraded the stock to “sell,” and MarketBeat reports a consensus “Sell” rating, despite institutional investors owning 23.88% of shares.
Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) EVP Michael Vitale purchased 4,834 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average cost of $12.35 per share, with a total value of $59,699.90. Following the completion of the acquisition, the executive vice president directly owned 22,414 shares in the company, valued at $276,812.90. The trade was a 27.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Michael Vitale also recently made the following trade(s):
- On Wednesday, July 22nd, Michael Vitale purchased 5,000 shares of Rhinebeck Bancorp stock. The stock was purchased at an average price of $11.94 per share, for a total transaction of $59,700.00.
Rhinebeck Bancorp Price Performance
Shares of Rhinebeck Bancorp stock opened at $12.52 on Friday. 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 stock has a market capitalization of $195.44 million, a price-to-earnings ratio of 17.58 and a beta of 0.15. Rhinebeck Bancorp, Inc. has a 1-year low of $6.72 and a 1-year high of $12.85. The firm's 50-day moving average price is $15.81 and its two-hundred day moving average price is $15.30.
Rhinebeck Bancorp (NASDAQ:RBKB - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.24 earnings per share for the quarter. Rhinebeck Bancorp had a net margin of 12.99% and a return on equity of 7.24%. The company had revenue of $13.38 million during the quarter.
Analysts Set New Price Targets
A number of research firms recently weighed in on RBKB. Weiss Ratings cut Rhinebeck Bancorp from a "buy (b-)" rating to a "sell (e-)" rating in a report on Tuesday. Wall Street Zen raised Rhinebeck Bancorp to a "hold" rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Rhinebeck Bancorp has a consensus rating of "Sell".
Get Our Latest Analysis on Rhinebeck Bancorp
Hedge Funds Weigh In On Rhinebeck Bancorp
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 48,203 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Rhinebeck Bancorp in the second quarter valued at about $246,000. Focused Wealth Management Inc bought a new stake in shares of Rhinebeck Bancorp in the second quarter worth about $173,000. New York State Common Retirement Fund bought a new stake in shares of Rhinebeck Bancorp in the second quarter worth about $97,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Rhinebeck Bancorp during the second quarter worth about $75,000. 23.88% of the stock is owned by institutional investors.
Rhinebeck Bancorp Company Profile
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Get Free Report)
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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