IMPORTANT DISCLAIMER: Blank Capital Research ("BCR") is a technology platform, not a registered investment advisor or broker-dealer. The algorithmically generated signals, scores, and rankings provided on this site ("God Mode" Signals) are for informational and research purposes only and do not constitute financial advice, investment recommendations, or an offer to sell or solicit an offer to buy any securities.
HYPOTHETICAL PERFORMANCE RESULTS: The "timing scores" and "regime signals" displayed are based on quantitative models. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
RISK OF LOSS: Trading in financial markets involves a high degree of risk and may result in the loss of your entire investment. Data provided by third-party sources (Intrinio, Snowflake) is believed to be reliable but is not guaranteed for accuracy or completeness. Past performance is not indicative of future results.
Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 49.7GRADE C
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
-0.3%
Sector: 8.5%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
Unlock Valuation Tools
Sign up for free access to institutional-quality research tools.
Based on our 6-factor quantitative model, Rhinebeck Bancorp, Inc. (RBKB) receives a "Hold" rating with a composite score of 52.3/100, ranked #204 out of 4446 stocks. Key factor scores: Quality 50/100, Value 67/100, Momentum 67/100. This is quantitative analysis only — not investment advice.
Rhinebeck Bancorp, Inc. (RBKB) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Rhinebeck Bancorp, Inc. Do?
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. Rhinebeck Bancorp, Inc. (RBKB) is classified as a micro-cap stock in the Financials sector, specifically within the Banking industry. The company is led by CEO Michael J. Quinn and employs approximately 200 people. With a market capitalization of $171M, RBKB is one of the notable companies in the Financials sector.
Rhinebeck Bancorp, Inc. (RBKB) Stock Rating — Hold (April 2026)
As of April 2026, Rhinebeck Bancorp, Inc. receives a Hold rating with a composite score of 52.3/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.RBKB ranks #204 out of 4,446 stocks in our coverage universe. Within the Financials sector, Rhinebeck Bancorp, Inc. ranks #76 of 891 stocks, placing it in the top 10% of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
RBKB Stock Price and 52-Week Range
Rhinebeck Bancorp, Inc. (RBKB) currently trades at $15.53. The 52-week high for RBKB is $16.50, which means the stock is currently trading -5.9% from its annual peak. The 52-week low is $9.31, putting the stock 66.8% above its annual trough. Recent trading volume was 0 shares, suggesting relatively thin trading activity.
Is RBKB Overvalued or Undervalued? — Valuation Analysis
Rhinebeck Bancorp, Inc. (RBKB) carries a value factor score of 67/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 16.70x, compared to the Financials sector average of 14.88x — a premium of 12%. The price-to-book ratio stands at 1.27x, versus the sector average of 1.22x. The price-to-sales ratio is 57.61x, compared to 0.90x for the average Financials stock. On an enterprise value basis, RBKB trades at 3.42x EV/EBITDA, versus 3.26x for the sector.
Overall, RBKB's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
Rhinebeck Bancorp, Inc. Profitability — ROE, Margins, and Quality Score
Rhinebeck Bancorp, Inc. (RBKB) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is -0.3%, compared to the Financials sector average of 8.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -0.0% versus the sector average of 1.2%.
On a margin basis, Rhinebeck Bancorp, Inc. reports gross margins of 0.0%. The operating margin is -5.5% (sector: 21.8%). Net profit margin stands at -2.0%, versus 17.7% for the average Financials stock. Revenue growth is running at 0.4% on a trailing basis, compared to 9.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
RBKB Debt, Balance Sheet, and Financial Health
Rhinebeck Bancorp, Inc. has a debt-to-equity ratio of 851.0%, compared to the Financials sector average of 121.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 1.12x, suggesting adequate working capital coverage. Total debt on the balance sheet is $32M. Cash and equivalents stand at $14M.
RBKB has a beta of 0.13, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Rhinebeck Bancorp, Inc. is 73/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
Rhinebeck Bancorp, Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, Rhinebeck Bancorp, Inc. reported revenue of $3M and earnings per share (EPS) of $0.93. Net income for the quarter was $-353,000. Gross margin was 0.0%. Operating income came in at $-541,000.
In FY 2025, Rhinebeck Bancorp, Inc. reported revenue of $3M and earnings per share (EPS) of $0.93. Net income for the quarter was $10M. Revenue grew -0.6% year-over-year compared to FY 2024. Operating income came in at $13M.
In Q3 2025, Rhinebeck Bancorp, Inc. reported revenue of $739,000 and earnings per share (EPS) of $0.25. Net income for the quarter was $3M. Revenue grew -4.4% year-over-year compared to Q3 2024. Operating income came in at $3M.
In Q2 2025, Rhinebeck Bancorp, Inc. reported revenue of $728,000 and earnings per share (EPS) of $0.25. Net income for the quarter was $3M. Revenue grew -1.1% year-over-year compared to Q2 2024. Operating income came in at $3M.
Over the past 8 quarters, Rhinebeck Bancorp, Inc. has demonstrated a growth trajectory, with revenue expanding from $736,000 to $3M. Investors analyzing RBKB stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
RBKB Dividend Yield and Income Analysis
Rhinebeck Bancorp, Inc. (RBKB) does not currently pay a dividend. This is common among smaller companies in the Banking industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Financials dividend stocks may want to explore other Financials stocks or use the stock screener to filter by dividend yield.
RBKB Momentum and Technical Analysis Profile
Rhinebeck Bancorp, Inc. (RBKB) has a momentum factor score of 67/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 33/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 2/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
RBKB vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing RBKB against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full RBKB vs S&P 500 (SPY) comparison to assess how Rhinebeck Bancorp, Inc. stacks up against the broader market across all factor dimensions.
RBKB Next Earnings Date
No upcoming earnings date has been announced for Rhinebeck Bancorp, Inc. (RBKB) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy RBKB? — Investment Thesis Summary
Rhinebeck Bancorp, Inc. presents a balanced picture with arguments on both sides. The value score of 67/100 suggests attractive pricing relative to fundamentals. Price momentum is positive at 67/100, suggesting the trend favors buyers. Low volatility (stability score 73/100) reduces downside risk.
In summary, Rhinebeck Bancorp, Inc. (RBKB) earns a Hold rating with a composite score of 52.3/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on RBKB stock.
We'll email you when stocks you follow change their composite rating.
Institutional Research Dossier
Rhinebeck Bancorp, Inc. (RBKB) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
We maintain a Hold rating on Rhinebeck Bancorp (RBKB). While the company exhibits attractive valuation metrics and stability, its profitability and investment scores raise concerns. The bank's limited revenue growth and negative return on equity, coupled with a high debt-to-equity ratio, offset the positive aspects of its valuation and historical price momentum, warranting a cautious approach.
The primary takeaway is that RBKB presents a mixed picture. Its strong valuation and stability scores are counterbalanced by weak profitability and investment metrics. Investors should carefully weigh these factors, particularly the high debt-to-equity ratio and negative ROE, before considering an investment in RBKB.
Business Strategy & Overview
Rhinebeck Bancorp operates as a community bank, primarily serving the Hudson Valley region of New York. Its core business revolves around traditional banking activities, including deposit gathering and loan origination. The loan portfolio is diversified across commercial real estate, residential mortgages, and commercial business loans. The bank's strategy appears to be focused on maintaining a local presence and building relationships with customers in its geographic footprint. This is evidenced by its network of 15 branches and 2 representative offices.
The company generates revenue primarily through net interest income, which is the difference between the interest earned on loans and the interest paid on deposits. It also derives income from fees associated with its banking services and from its brokerage and financial services offerings. The success of Rhinebeck Bancorp is heavily reliant on its ability to attract deposits at competitive rates and to deploy those deposits into profitable loans while managing credit risk effectively.
Rhinebeck Bancorp's strategic positioning is that of a community bank competing with larger regional and national banks, as well as other community banks, for customers in the Hudson Valley. Its competitive advantage, if any, lies in its local market knowledge and its ability to provide personalized service to its customers. However, this advantage is increasingly challenged by the rise of online banking and the increasing sophistication of larger competitors.
The company's product pipeline appears to be focused on expanding its range of financial services and investment products to cater to the evolving needs of its customer base. This includes offering brokerage services, life insurance, and investment products. However, the company's limited scale and resources may constrain its ability to compete effectively in these areas.
The banking industry is currently facing a number of challenges, including rising interest rates, increased regulatory scrutiny, and heightened competition. These challenges are likely to put pressure on Rhinebeck Bancorp's profitability and growth prospects. The company's ability to navigate these challenges will be crucial to its long-term success.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
0.4%
Sector: 9.4%
-96% VS SCTR
Economic Moat Analysis
Rhinebeck Bancorp's economic moat is likely Nonexistent. The company operates in a highly competitive banking industry where switching costs are low and product differentiation is limited. While community banks can sometimes establish strong local relationships, these relationships are not necessarily a sustainable competitive advantage.
The bank does not appear to possess any significant network effects. The value of its services to one customer does not increase significantly as more customers join the bank. This is in contrast to businesses like payment networks or social media platforms, where network effects are a key driver of competitive advantage.
Switching costs for banking customers are relatively low. Customers can easily switch banks to obtain better interest rates, lower fees, or more convenient services. This limits Rhinebeck Bancorp's ability to charge premium prices or retain customers in the face of competition.
The company's intangible assets, such as its brand name and reputation, are not particularly strong. While it has been operating for a long time, its brand recognition is likely limited to its local market. This makes it difficult for the bank to expand into new markets or attract customers from larger competitors.
Rhinebeck Bancorp does not appear to have any significant cost advantages. It is a relatively small bank with limited economies of scale. This means that it is likely to have higher operating costs than larger banks, which puts it at a disadvantage in terms of profitability.
Efficient scale is not a significant factor in the banking industry. While there are some economies of scale, they are not so large that they create a significant barrier to entry for new competitors. This means that Rhinebeck Bancorp is constantly facing the threat of new competition from other banks and financial institutions.
Financial Health & Profitability
Rhinebeck Bancorp's financial health presents a mixed picture. While the company has demonstrated positive net income in the most recent fiscal year (FY2025), its historical performance has been volatile, with a significant net loss in FY2024. The revenue growth has been minimal, with a slight decrease from $3.00 million in FY2024 to $2.98 million in FY2025. This lack of revenue growth is a concern, as it indicates limited ability to expand its business.
The company's profitability metrics are also concerning. While the operating margin has improved significantly from -364.3% in FY2024 to 425.1% in FY2025, this is largely due to the significant net loss in the previous year. The company's return on equity (ROE) is negative (-0.3%), which is significantly below the sector average of 8.5%. This indicates that the company is not generating sufficient returns on its shareholders' equity.
The balance sheet is also a cause for concern. The company's total debt is $31.76 million, while its total cash is only $14.36 million. The debt-to-equity ratio is extremely high at 851.00, which is significantly above the sector average of 115.00. This high level of leverage increases the company's financial risk and makes it more vulnerable to economic downturns.
The company's cash flow generation is relatively strong, with a free cash flow of $25.53 million. However, this may not be sustainable in the long term if the company is unable to improve its profitability and revenue growth. The current ratio of 1.12 indicates that the company has sufficient liquid assets to cover its short-term liabilities.
Analyzing the quarterly financial history reveals significant volatility in net income and operating margin. While recent quarters have shown positive results, the large losses in previous quarters highlight the company's vulnerability to fluctuations in the economic environment. The lack of consistent profitability is a major concern for investors.
Overall, Rhinebeck Bancorp's financial health is weak. The company's limited revenue growth, negative ROE, and high debt-to-equity ratio raise significant concerns about its long-term sustainability. While the recent improvement in profitability is encouraging, it is not enough to offset the underlying weaknesses in the company's financial position.
Valuation Assessment
Rhinebeck Bancorp's valuation presents a mixed picture. The company's P/E ratio of 16.7x is slightly above the sector average of 15.5x, suggesting that the stock is not significantly undervalued based on earnings. However, the EV/EBITDA ratio of 3.4x is slightly below the sector average of 3.5x, indicating that the company may be relatively undervalued based on its enterprise value and operating performance.
Given the company's limited revenue growth and negative ROE, a higher P/E ratio than the sector average is not justified. The market may be pricing in expectations of future improvement in profitability, but this is not guaranteed. The company's high debt-to-equity ratio also warrants a lower valuation multiple.
The free cash flow yield is difficult to assess without historical data on free cash flow. However, the current free cash flow of $25.53 million suggests that the company is generating significant cash flow relative to its market capitalization. This could be a positive sign for investors, but it is important to consider the sustainability of this cash flow generation.
Compared to its historical valuation, it is difficult to assess whether the stock is currently cheap or expensive without more historical data. However, the company's volatile earnings history and inconsistent profitability make it difficult to establish a reliable baseline for valuation.
Overall, Rhinebeck Bancorp's valuation appears to be fair, but not particularly attractive. The company's slightly above-average P/E ratio is offset by its slightly below-average EV/EBITDA ratio. However, the company's limited revenue growth, negative ROE, and high debt-to-equity ratio warrant a cautious approach to valuation.
A discounted cash flow (DCF) analysis would be helpful in determining the intrinsic value of the stock, but this requires making assumptions about future revenue growth, profitability, and discount rates. Given the company's volatile earnings history, it is difficult to make reliable assumptions about its future performance.
Risk & Uncertainty
Rhinebeck Bancorp faces several specific risks that could negatively impact its business and financial performance. One of the most significant risks is the company's high debt-to-equity ratio. This high level of leverage increases the company's financial risk and makes it more vulnerable to economic downturns. If interest rates rise or the company's earnings decline, it may struggle to meet its debt obligations.
Another significant risk is the company's limited revenue growth. The company has struggled to grow its revenue in recent years, and this trend is likely to continue in the future. This lack of revenue growth limits the company's ability to improve its profitability and generate returns for its shareholders. The competitive landscape in the Hudson Valley region is intense, with larger regional and national banks vying for market share.
The company is also subject to regulatory risk. The banking industry is heavily regulated, and changes in regulations could negatively impact the company's business. For example, changes in capital requirements or lending regulations could increase the company's costs or limit its ability to make loans.
Credit risk is another significant concern. The company's loan portfolio is exposed to the risk of borrowers defaulting on their loans. This risk is particularly high in the commercial real estate sector, which is a significant portion of the company's loan portfolio. A downturn in the real estate market could lead to increased loan losses and negatively impact the company's profitability.
Finally, the company faces concentration risk. Its operations are concentrated in the Hudson Valley region of New York. This makes the company vulnerable to economic downturns or other adverse events that affect the region. A decline in the local economy could lead to decreased loan demand and increased loan losses.
Bulls Say / Bears Say
The Bull Case
BULL VIEWRhinebeck Bancorp's low EV/EBITDA ratio suggests it is undervalued compared to peers, offering potential upside as profitability improves.
BULL VIEWThe bank's strong free cash flow generation provides flexibility for strategic investments or capital returns to shareholders.
BULL VIEWRecent positive trends in net income and operating margin indicate a turnaround is underway, driven by improved efficiency and cost management.
The Bear Case
BEAR VIEWRhinebeck Bancorp's negative ROE and high debt-to-equity ratio signal significant financial distress and limited ability to generate shareholder value.
BEAR VIEWThe bank's stagnant revenue growth and intense competition in the Hudson Valley region hinder its long-term growth prospects.
BEAR VIEWThe company's concentration in a single geographic region exposes it to significant economic and regulatory risks.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score RBKB and 4,400+ other equities.
Rhinebeck Bancorp, Inc. exhibits a 1581% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
-0.0%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
0.0%
Sector: 0.0%
Operating Margin
Core business profitability
-5.5%
Sector: 21.8%
Net Margin
Bottom-line profitability
-2.0%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
