Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) Short Interest Down 24.7% in October

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

Rhinebeck Bancorp Stock Performance

Shares of NASDAQ:RBKB remained flat at $9.63 during midday trading on Friday. 1,460 shares of the stock traded hands, compared to its average volume of 6,885. Rhinebeck Bancorp has a 12-month low of $6.10 and a 12-month high of $9.81. The stock has a market cap of $106.80 million, a P/E 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. The business’s 50-day moving average is $9.01 and its 200 day moving average is $8.35.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Rhinebeck Bancorp stock. Empowered Funds LLC increased its position in shares of Rhinebeck Bancorp, Inc. (NASDAQ:RBKB) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,348 shares of the company’s stock after acquiring an additional 3,325 shares during the quarter. Empowered Funds LLC owned approximately 0.40% of Rhinebeck Bancorp worth $375,000 as of its most recent filing with the Securities and Exchange Commission. 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.