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

Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 5,500 shares, a decline of 24.7% from the October 15th total of 7,300 shares. Based on an average daily volume of 8,700 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Rhinebeck Bancorp

A hedge fund recently raised its stake in Rhinebeck Bancorp stock. Empowered Funds LLC boosted its position in shares of Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,314 shares of the company’s stock after buying an additional 2,546 shares during the period. Empowered Funds LLC owned 0.45% of Rhinebeck Bancorp worth $465,000 at the end of the most recent quarter. Institutional investors and hedge funds own 23.88% of the company’s stock.

Rhinebeck Bancorp Stock Performance

NASDAQ RBKB remained flat at $9.63 on Friday. 1,460 shares of the company were exchanged, compared to its average volume of 6,885. The business has a fifty day moving average of $9.01 and a 200 day moving average of $8.35. The stock has a market cap of $106.80 million, a price-to-earnings ratio of -20.50 and a beta of 0.74. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.94. Rhinebeck Bancorp has a 52 week low of $6.10 and a 52 week high of $9.81.

About Rhinebeck Bancorp

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.