Empowered Funds LLC Buys Shares of 59,627 Rhinebeck Bancorp, Inc. $RBKB

Empowered Funds LLC acquired a new position in Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,627 shares of the company’s stock, valued at approximately $1,032,000. Empowered Funds LLC owned approximately 0.38% of Rhinebeck Bancorp at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Rhinebeck Bancorp by 122.2% during the second quarter. Geode Capital Management LLC now owns 87,643 shares of the company’s stock valued at $1,028,000 after acquiring an additional 48,203 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Rhinebeck Bancorp in the 2nd quarter valued at $25,000. New York State Common Retirement Fund acquired a new position in Rhinebeck Bancorp in the second quarter valued at approximately $97,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Rhinebeck Bancorp during the 2nd quarter worth approximately $29,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Rhinebeck Bancorp during the second quarter worth about $75,000. 23.88% of the stock is owned by institutional investors.

Insider Transactions at Rhinebeck Bancorp

In other Rhinebeck Bancorp news, Director Nancy Patzwahl bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were bought at an average cost of $11.94 per share, with a total value of $298,500.00. Following the completion of the purchase, the director directly owned 27,270 shares of the company’s stock, valued at $325,603.80. This trade represents a 1,101.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew Smith bought 12,425 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The shares were bought at an average cost of $12.00 per share, for a total transaction of $149,100.00. Following the purchase, the chief executive officer directly owned 36,251 shares in the company, valued at approximately $435,012. This represents a 52.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 59,759 shares of company stock worth $716,125 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Rhinebeck Bancorp to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings downgraded Rhinebeck Bancorp from a “buy (b-)” rating to a “sell (e-)” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Rhinebeck Bancorp Trading Up 0.2%

Shares of Rhinebeck Bancorp stock opened at $12.82 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 0.94. Rhinebeck Bancorp, Inc. has a 52-week low of $6.72 and a 52-week high of $13.00. The stock has a market capitalization of $200.45 million, a P/E ratio of 18.00 and a beta of 0.16. The stock’s 50-day simple moving average is $14.09 and its 200 day simple moving average is $15.29.

Rhinebeck Bancorp (NASDAQ:RBKB) last posted its earnings results on Thursday, July 23rd. The company reported $0.24 earnings per share for the quarter. The business had revenue of $13.38 million during the quarter. Rhinebeck Bancorp had a return on equity of 7.20% and a net margin of 12.99%.

Rhinebeck Bancorp Company Profile

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.