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

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 8,400 shares, a decline of 33.9% from the February 13th total of 12,700 shares. Based on an average daily volume of 6,200 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.2% of the company’s shares are short sold.

Rhinebeck Bancorp Trading Up 1.3 %

Shares of NASDAQ:RBKB traded up $0.13 during midday trading on Friday, reaching $10.44. The company’s stock had a trading volume of 3,658 shares, compared to its average volume of 6,179. The firm has a market capitalization of $115.76 million, a price-to-earnings ratio of -12.89 and a beta of 0.74. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a 50 day moving average price of $10.01 and a two-hundred day moving average price of $9.48. Rhinebeck Bancorp has a fifty-two week low of $7.30 and a fifty-two week high of $10.49.

Rhinebeck Bancorp (NASDAQ:RBKB) last issued its earnings results on Thursday, January 30th. The company reported $0.05 EPS for the quarter. Rhinebeck Bancorp had a positive return on equity of 3.44% and a negative net margin of 15.89%.

Institutional Trading of Rhinebeck Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming bought a new stake in Rhinebeck Bancorp in the 4th quarter valued at about $25,000. Dimensional Fund Advisors LP increased its position in Rhinebeck Bancorp by 24.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 22,704 shares of the company’s stock valued at $219,000 after buying an additional 4,519 shares in the last quarter. Geode Capital Management LLC increased its position in Rhinebeck Bancorp by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 37,286 shares of the company’s stock valued at $345,000 after buying an additional 3,637 shares in the last quarter. Empowered Funds LLC increased its position in Rhinebeck Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 50,314 shares of the company’s stock valued at $465,000 after buying an additional 2,546 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Rhinebeck Bancorp by 70.8% in the 4th quarter. Alliancebernstein L.P. now owns 196,254 shares of the company’s stock valued at $1,898,000 after buying an additional 81,345 shares in the last quarter. 23.88% of the stock is owned by institutional investors.

About Rhinebeck Bancorp

Rhinebeck Bancorp, Inc operates as the bank holding company for Rhinebeck Bank that provides banking and financial products and services to consumer and commercial customers in the Hudson Valley region of New York. The company offers deposits, including non-interest-bearing demand, interest bearing demand, money market, commercial and personal checking, individual retirement, and saving accounts, as well as certificates of deposit.