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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC lifted its holdings in Rhinebeck Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 50,314 shares of the company’s stock worth $465,000 after buying an additional 2,546 shares during the period. State of Wyoming acquired a new position in shares of Rhinebeck Bancorp in the 4th quarter valued at about $25,000. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 3,637 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 4,519 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of 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 purchasing an additional 81,345 shares during the period. 23.88% of the stock is owned by institutional investors and hedge funds.

Rhinebeck Bancorp Trading Up 1.3 %

RBKB traded up $0.13 during midday trading on Friday, hitting $10.44. 3,658 shares of the company were exchanged, compared to its average volume of 6,179. The firm has a market capitalization of $115.76 million, a P/E ratio of -12.89 and a beta of 0.74. Rhinebeck Bancorp has a 1-year low of $7.30 and a 1-year high of $10.49. The firm’s 50 day moving average price is $10.01 and its 200-day moving average price is $9.48. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.53.

Rhinebeck Bancorp (NASDAQ:RBKB) last announced 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%.

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.