Rhinebeck Bancorp (NASDAQ:RBKB) Stock Price Down 0.4% - Time to Sell?
Rhinebeck Bancorp (NASDAQ:RBKB) shares fell 0.4% to $10.00, with a trading volume decline of 10% from the average. Analysts maintain a "sell" rating, with Weiss Ratings restating a "sell (d+)" on October 8. The company reported $0.25 earnings per share for the last quarter, with a market cap of $111 million. Institutional investors hold 23.88% of the stock. Despite the drop, hedge funds have recently increased their positions in the company. Analysts suggest considering other stocks as better investment options.
Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) shares dropped 0.4% on Thursday . The company traded as low as $9.74 and last traded at $10.00. Approximately 8,334 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 9,246 shares. The stock had previously closed at $10.04.
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Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a "sell (d+)" rating on shares of Rhinebeck Bancorp in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell".
Read Our Latest Analysis on Rhinebeck Bancorp
Rhinebeck Bancorp Stock Performance
The firm's 50 day simple moving average is $11.90 and its 200-day simple moving average is $11.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $111 million, a price-to-earnings ratio of 21.74 and a beta of 0.43.
Rhinebeck Bancorp (NASDAQ:RBKB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.25 earnings per share for the quarter. Rhinebeck Bancorp had a net margin of 7.20% and a return on equity of 6.57%. The business had revenue of $13.97 million for the quarter.
Hedge Funds Weigh In On Rhinebeck Bancorp
A number of hedge funds have recently modified their holdings of RBKB. JPMorgan Chase & Co. acquired a new position in shares of Rhinebeck Bancorp in the second quarter worth $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Rhinebeck Bancorp during the second quarter worth $29,000. Raymond James Financial Inc. acquired a new position in Rhinebeck Bancorp during the second quarter worth $75,000. New York State Common Retirement Fund acquired a new position in Rhinebeck Bancorp during the second quarter worth $97,000. Finally, Empowered Funds LLC increased its position in Rhinebeck Bancorp by 3.4% during the first quarter. Empowered Funds LLC now owns 53,026 shares of the company's stock worth $522,000 after buying an additional 1,762 shares during the last quarter. 23.88% of the stock is owned by institutional investors and hedge funds.
Rhinebeck Bancorp Company Profile
(Get Free Report)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.
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