Rhinebeck Bancorp (RBKB) AI Stock Analysis

• Market Cap: $168.55M
• Dividend Yield: N/A
• Average Volume (3M): 7.65K
• Price to Earnings (P/E): 14.0
• Beta (1Y): 0.15
• Revenue Growth: 22.30%
• EPS Growth: N/A
• Country: US
• Employees: 157
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.21
• Shares Outstanding: 11,140,395
• 10 Day Avg. Volume: 10,282
• 30 Day Avg. Volume: 7,647
• PEG Ratio: -0.06
• Price to Book (P/B): 0.95
• Price to Sales (P/S): 1.72
• P/FCF Ratio: 11.97
• Enterprise Value/Market Cap: 1.08
• Enterprise Value/Revenue: 2.40
• Enterprise Value/Gross Profit: 3.52
• Enterprise Value/Ebitda: 13.42
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: $17.50 ▲(61.74% Upside)
• Action: Reiterated Date: 03/14/26
• Date: Action: Reiterated 03/14/26

The score is driven primarily by improving (but still volatile) financial performance and strong, constructive price momentum (price above key moving averages with positive MACD). Valuation is reasonable based on the provided P/E, while the mutual conversion is a supportive corporate development that adds upside potential but carries execution/approval uncertainty.

Positive Factors

Recovery in profitability

The material swing back to positive net margin and revenue rebound indicates the bank has re-established profitable core lending and deposit operations. Sustained margin recovery supports internal capital formation, cushioning the franchise against cyclical shocks and aiding reinvestment over the medium term.

Improved capitalization and leverage

A sharply lower debt-to-equity ratio shows the bank strengthened its capital base and reduced financial leverage. Better capitalization improves loss-absorption capacity, regulatory flexibility and lowers solvency risk, making the company more resilient to credit stress and funding shocks over multiple quarters.

Mutual-to-stock conversion expands equity access

The announced second-step conversion is a structural corporate change that will broaden public float and simplify capital structure. If executed, it should enhance access to equity capital, improve investor liquidity and provide a durable avenue for raising capital to support growth or balance-sheet strengthening.

Negative Factors

Multi-year earnings and leverage volatility

Repeated swings between profitability and losses, and large leverage moves across years, indicate earnings and capital are sensitive to credit, interest-rate and operational variability. This persistent volatility reduces predictability of returns and complicates strategic planning and investor confidence over the medium term.

Choppy free cash flow trends

While cash conversion is positive, declining free cash flow and uneven operating cash trends show inconsistency in internal funding. This hampers reliable dividend funding, loan growth financing and capital buildup, increasing dependence on external capital during adverse conditions over coming quarters.

Small, regionally concentrated franchise

As a small community bank focused mainly in New York with limited staff and footprint, the company has constrained scale economies and geographic diversification. This raises exposure to local economic cycles and limits diversification benefits and franchise expansion potential over the medium term.

Rhinebeck Bancorp Business Overview & Revenue Model

Company Description

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; automobile loans; commercial real estate loans, including multi-family real estate loans, commercial construction, and land development loans; commercial business loans; and one-to four-family residential real estate loans. It also provides brokerage and financial services; and life insurance and investment products to individuals and businesses. As of December 31, 2021, the company operated through 15 branches and 2 representative offices in Dutchess, Ulster, Orange, and Albany counties. It also operates ATM located in Tivoli, New York. The company was founded in 1860 and is based in Poughkeepsie, New York. Rhinebeck Bancorp, Inc. operates as a subsidiary of Rhinebeck Bancorp, MHC.

How the Company Makes Money

Rhinebeck Bancorp primarily earns money through Rhinebeck Bank’s banking operations. The largest driver is typically net interest income: the bank collects interest and fees on loans (e.g., commercial real estate, residential mortgages, commercial and consumer loans) and on its investment securities portfolio, and pays interest to depositors and other funding sources; the difference (interest income minus interest expense) is net interest income. The company also earns noninterest income from customer and transactional activities, which commonly includes service charges and fees on deposit accounts, interchange/merchant-related fees, gains/losses and income associated with investment securities activities, and other bank service fees (specific fee categories and relative contributions are not available here). Earnings are influenced by factors such as loan growth and credit performance, deposit mix and funding costs, the level and shape of interest rates (which affect loan yields and deposit pricing), and operating efficiency (controlling noninterest expense). Any significant partnerships or material revenue-sharing arrangements are null.

Rhinebeck Bancorp Financial Statement Overview

Summary

Financials improved materially in 2025 with revenue rebounding, profitability returning (net margin 13.2% vs. -15.9% in 2024), and leverage falling (debt-to-equity 0.22). The main constraint is multi-year volatility, including a loss year and sizable leverage swings, plus mixed free cash flow trend despite solid cash conversion.

Income Statement

Performance has been volatile but improved meaningfully in the most recent year. Revenue rebounded in 2025 (up 7.98%) after a sharp decline in 2024, and profitability swung back strongly with net margin rising to 13.2% (vs. -15.9% in 2024). Operating profitability also recovered (EBIT margin 16.7% in 2025 vs. negative in 2024). The main weakness is the uneven earnings trajectory across years, including a material loss year (2024) and lower profitability versus the 2021 peak.

Balance Sheet

Leverage and returns improved in the latest year, but the balance sheet has shown sizable leverage swings. Debt-to-equity decreased to 0.22 in 2025 (from 0.62 in 2024 and 1.17 in 2023), signaling a stronger capital position versus prior years. Return on equity also recovered to 7.3% in 2025 after a negative year in 2024. Key risk is historical variability in leverage and profitability, which can pressure stability in a tougher credit or rate environment.

Cash Flow

Cash generation is positive and broadly supportive of earnings, but trends are mixed. Operating cash flow increased to $11.7M in 2025 and free cash flow matched net income (free cash flow to net income of 1.0), indicating solid cash conversion. However, free cash flow declined in 2025 (-3.6% growth) after improving in 2024, and cash flow has been choppy over the period, reducing confidence in consistency.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	75.84M	54.26M	66.39M	54.53M	51.11M
Gross Profit	51.71M	25.91M	42.00M	46.36M	50.49M
EBITDA	13.57M	-9.51M	7.11M	10.55M	16.65M
Net Income	10.04M	-8.62M	4.39M	7.00M	11.56M
Balance Sheet
Total Assets	1.30B	1.26B	1.31B	1.34B	1.28B
Cash, Cash Equivalents and Short-Term Investments	179.12M	147.24M	159.05M	240.47M	299.73M
Total Debt	30.31M	74.93M	133.22M	62.88M	23.20M
Total Liabilities	1.16B	1.13B	1.20B	1.23B	1.16B
Stockholders Equity	136.85M	121.83M	113.69M	108.13M	125.97M
Cash Flow
Free Cash Flow	10.89M	7.68M	6.47M	13.66M	5.88M
Operating Cash Flow	11.74M	8.47M	7.05M	14.79M	7.65M
Investing Cash Flow	21.16M	74.75M	14.70M	-123.61M	-135.73M
Financing Cash Flow	31.60M	-67.86M	-31.00M	68.11M	106.69M

Rhinebeck Bancorp Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 10.82
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RBKB, the sentiment is Neutral. The current price of 10.82 is below the 20-day moving average (MA) of 15.73, below the 50-day MA of 13.87, and below the 200-day MA of 12.31, indicating a neutral trend. The MACD of 0.42 indicates Positive momentum. The RSI at 50.18 is Neutral, neither overbought nor oversold. The STOCH value of 9.91 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RBKB.

Rhinebeck Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FNWD	73 Outperform	$159.93M	18.59	5.01%	0.97%	-7.20%	-29.17%
EBMT	70 Outperform	$162.57M	10.47	7.43%	2.93%	6.10%	59.32%
RBKB	68 Neutral	$168.55M	13.95	7.66%	―	22.30%	―
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
SBFG	66 Neutral	$125.36M	10.15	10.29%	2.69%	10.78%	21.72%
AFBI	64 Neutral	$115.83M	14.73	6.68%	―	5.18%	36.12%
FGBI	61 Neutral	$132.19M	-1.34	-23.30%	0.84%	1.33%	-593.24%

Rhinebeck Bancorp Corporate Events

Rhinebeck Bancorp Announces Mutual Conversion to Full Public Ownership

On February 10, 2026, Rhinebeck Bancorp, Inc. and its parent mutual holding company Rhinebeck Bancorp, MHC announced a plan to convert from a two‑tier mutual holding company structure to a fully public stock holding company. The move will eliminate the MHC, which owns about 57% of the company’s common stock, and preserve existing minority investors’ proportional ownership through an exchange of their current shares for new stock based on a post‑transaction exchange ratio.

As part of the second‑step conversion, Rhinebeck will sell new shares representing the MHC’s ownership stake in a subscription offering, with eligible depositors of Rhinebeck Bank as of December 31, 2024 receiving first‑priority, non‑transferable subscription rights. The transaction, which is targeted for completion in the third quarter of 2026 pending regulatory, depositor and shareholder approvals, is expected to broaden the company’s public float and simplify its capital structure, with implications for investor liquidity and the bank’s access to equity capital.

The most recent analyst rating on (RBKB) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Rhinebeck Bancorp stock, see the RBKB Stock Forecast page.