Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) Sees Large Increase in Short Interest

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) saw a significant growth in short interest during the month of 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. Based on an average trading volume of 73,220 shares, the days-to-cover ratio is currently 2.5 days. Approximately 1.7% of the company’s shares are sold short.

Institutional Investors Weigh In On Rhinebeck Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in shares of Rhinebeck Bancorp in the second quarter worth about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Rhinebeck Bancorp during the second quarter valued at approximately $29,000. Wells Fargo & Company MN lifted its stake in shares of Rhinebeck Bancorp by 46.3% in the 4th 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 during the second quarter worth $75,000. Finally, Barclays PLC boosted its holdings in Rhinebeck Bancorp by 12.1% during the fourth quarter. Barclays PLC now owns 7,210 shares of the company’s stock worth $87,000 after buying an additional 778 shares in the last quarter. 23.88% of the stock is owned by institutional investors and hedge funds.

Rhinebeck Bancorp Stock Up 0.9%

NASDAQ RBKB traded up $0.15 during trading on Wednesday, reaching $16.77. 3,342 shares of the company’s stock traded hands, compared to its average volume of 17,505. Rhinebeck Bancorp has a 12-month low of $9.41 and a 12-month high of $17.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $187.32 million, a price-to-earnings ratio of 18.43 and a beta of 0.15. The company’s 50 day simple moving average is $16.54 and its two-hundred day simple moving average is $15.10.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RBKB shares. Wall Street Zen raised shares of Rhinebeck Bancorp to a “hold” rating in a research note on Sunday. Weiss Ratings upgraded shares of Rhinebeck Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently 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.