Insider Buying: Rhinebeck Bancorp (NASDAQ:RBKB) EVP Acquires $59,699.90 in Stock

by · The Markets Daily

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB – Get Free Report) EVP Michael Vitale bought 4,834 shares of the stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $12.35 per share, with a total value of $59,699.90. Following the purchase, the executive vice president owned 22,414 shares of the company’s stock, valued at approximately $276,812.90. This represents a 27.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 shares were bought at an average cost of $11.94 per share, for a total transaction of $59,700.00.

Rhinebeck Bancorp Stock Up 3.4%

NASDAQ RBKB traded up $0.41 on Thursday, reaching $12.57. The company had a trading volume of 254,980 shares, compared to its average volume of 47,726. The firm has a market capitalization of $196.32 million, a PE ratio of 17.66 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 has a 50-day moving average of $15.88 and a 200-day moving average of $15.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.93 and a quick ratio of 0.93.

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 (EPS) for the quarter. The company had revenue of $13.38 million for the quarter. Rhinebeck Bancorp had a net margin of 12.99% and a return on equity of 7.24%.

Institutional Investors Weigh In On Rhinebeck Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in RBKB. JPMorgan Chase & Co. acquired a new position in Rhinebeck Bancorp in the second quarter worth $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Rhinebeck Bancorp during the 2nd quarter valued at about $29,000. Wells Fargo & Company MN raised its stake in Rhinebeck Bancorp by 46.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,064 shares of the company’s stock worth $61,000 after acquiring an additional 1,602 shares during the period. Raymond James Financial Inc. bought a new position in Rhinebeck Bancorp in the second quarter worth about $75,000. Finally, Barclays PLC boosted its stake in Rhinebeck Bancorp by 12.1% in the fourth quarter. Barclays PLC now owns 7,210 shares of the company’s stock valued at $87,000 after acquiring an additional 778 shares during the period. 23.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RBKB shares. Weiss Ratings lowered Rhinebeck Bancorp from a “buy (b-)” rating to a “sell (e-)” rating in a research report on Tuesday. Wall Street Zen upgraded Rhinebeck Bancorp to a “hold” rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

View Our Latest Stock Report on RBKB

Rhinebeck Bancorp Company Profile

(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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