Rhinebeck Bancorp Inc (NASDAQ:RBKB) Sees Large Decline in Short Interest

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Rhinebeck Bancorp Inc (NASDAQ:RBKB) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 7,300 shares, a decline of 13.1% from the June 30th total of 8,400 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 10,000 shares, the days-to-cover ratio is currently 0.7 days.

Shares of NASDAQ RBKB traded down $0.10 during mid-day trading on Thursday, hitting $10.80. 1,713 shares of the stock traded hands, compared to its average volume of 2,185. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.80. Rhinebeck Bancorp has a 52 week low of $10.65 and a 52 week high of $12.30. The stock has a fifty day moving average price of $10.92 and a 200-day moving average price of $11.37.

Rhinebeck Bancorp (NASDAQ:RBKB) last released its quarterly earnings results on Tuesday, May 14th. The company reported $0.09 earnings per share for the quarter. The firm had revenue of $8.83 million for the quarter.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBKB. EJF Capital LLC boosted its holdings in Rhinebeck Bancorp by 18.4% in the second quarter. EJF Capital LLC now owns 659,018 shares of the company’s stock worth $7,262,000 after acquiring an additional 102,545 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Rhinebeck Bancorp by 31.4% in the second quarter. Vanguard Group Inc. now owns 117,420 shares of the company’s stock worth $1,294,000 after acquiring an additional 28,087 shares in the last quarter. BlackRock Inc. boosted its holdings in Rhinebeck Bancorp by 73.0% in the second quarter. BlackRock Inc. now owns 15,197 shares of the company’s stock worth $168,000 after acquiring an additional 6,415 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Rhinebeck Bancorp in the second quarter worth $54,000. Institutional investors own 11.22% of the company’s stock.

Rhinebeck Bancorp Company Profile

Rhinebeck Bancorp, Inc provides banking services to customers in the central Hudson Valley region of New York State. The company offers deposits; automobile loans; commercial real estate loans, including multi-family real estate loans and commercial construction loans; commercial business loans; and one- to four-family residential real estate loans.

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