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Rhinebeck Bancorp ( (RBKB) ) has provided an update.
Rhinebeck Bancorp, Inc. has announced a new plan to repurchase up to 540,000 shares of its common stock, representing approximately 5% of its outstanding shares. This initiative will commence following the completion of its previous stock repurchase plan from September 2022, which still has 47,506 shares available for repurchase, potentially impacting the company’s stock value and market positioning.
Spark’s Take on RBKB Stock
According to Spark, TipRanks’ AI Analyst, RBKB is a Neutral.
Rhinebeck Bancorp’s stock score is primarily impacted by its financial challenges, including negative profitability metrics and a poor valuation due to a negative P/E ratio. However, strong technical indicators suggest positive market sentiment, partially offsetting financial concerns.
To see Spark’s full report on RBKB stock, click here.
More about Rhinebeck Bancorp
Rhinebeck Bancorp, Inc. is the holding company for Rhinebeck Bank, operating in the financial services industry with a focus on banking services.
Average Trading Volume: 22,161
Technical Sentiment Signal: Buy
Current Market Cap: $139.1M
For detailed information about RBKB stock, go to TipRanks’ Stock Analysis page.