Rhinebeck Bancorp (NASDAQ:RBKB) Releases Earnings Results

Rhinebeck Bancorp (NASDAQ:RBKB) issued its earnings results on Thursday. The company reported $0.21 earnings per share for the quarter, Zacks reports. Rhinebeck Bancorp had a return on equity of 7.20% and a net margin of 12.99%.

Rhinebeck Bancorp Trading Up 0.2%

Shares of NASDAQ:RBKB traded up $0.02 during midday trading on Thursday, hitting $12.85. 30,877 shares of the stock traded hands, compared to its average volume of 66,604. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $12.85 and its two-hundred day moving average is $14.47. The stock has a market capitalization of $200.97 million, a PE ratio of 18.04 and a beta of 0.16. Rhinebeck Bancorp has a one year low of $6.72 and a one year high of $13.28.

Insider Activity

In other Rhinebeck Bancorp news, EVP Michael Vitale purchased 4,834 shares of Rhinebeck Bancorp stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $12.35 per share, for a total transaction of $59,699.90. Following the acquisition, the executive vice president directly owned 22,414 shares in the company, valued at approximately $276,812.90. This trade represents a 27.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RBKB shares. Wall Street Zen upgraded Rhinebeck Bancorp to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings cut shares of Rhinebeck Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating. According to MarketBeat, Rhinebeck Bancorp presently has a consensus rating of “Buy”.

About Rhinebeck Bancorp

Rhinebeck Bancorp, Inc is the holding company for Rhinebeck Bank, a community bank headquartered in Rhinebeck, New York. Through its banking subsidiary, the company provides a range of financial services to individuals, families, businesses and nonprofit organizations.

Rhinebeck Bank offers deposit products such as checking, savings, money market and certificate accounts, along with residential mortgage loans, home equity financing, consumer loans and commercial lending. Its business services include commercial real estate loans, business loans, cash management and other banking solutions designed for local enterprises.

Founded in 1864, Rhinebeck Bank has a long history of serving communities in New York’s Hudson Valley.