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

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Get Free Report) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 7,600 shares, a drop of 29.6% from the September 15th total of 10,800 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 7,200 shares, the short-interest ratio is currently 1.1 days.

Rhinebeck Bancorp Price Performance

NASDAQ:RBKB traded down $0.02 during mid-day trading on Friday, reaching $9.49. The stock had a trading volume of 10,109 shares, compared to its average volume of 6,870. The stock has a 50-day simple moving average of $8.50 and a two-hundred day simple moving average of $8.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. Rhinebeck Bancorp has a 12 month low of $6.10 and a 12 month high of $9.81. The stock has a market capitalization of $105.24 million, a PE ratio of 24.33 and a beta of 0.74.

Rhinebeck Bancorp (NASDAQ:RBKB - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.09 EPS for the quarter. Rhinebeck Bancorp had a return on equity of 3.78% and a net margin of 6.21%. The company had revenue of $10.65 million during the quarter.

Institutional Investors Weigh In On Rhinebeck Bancorp

A hedge fund recently raised its stake in Rhinebeck Bancorp stock. Vanguard Group Inc. lifted its stake in shares of Rhinebeck Bancorp, Inc. (NASDAQ:RBKB - Free Report) by 135.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 242,118 shares of the company's stock after buying an additional 139,200 shares during the period. Vanguard Group Inc. owned about 2.19% of Rhinebeck Bancorp worth $2,046,000 as of its most recent SEC filing. Institutional investors and hedge funds own 23.88% of the company's stock.

Rhinebeck Bancorp Company Profile

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.