Reliant Bancorp Inc (RBNC) Given Consensus Rating of “Hold” by Brokerages

Reliant Bancorp Inc (NASDAQ:RBNC) has earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating. Reliant Bancorp’s rating score has declined by 28.8% in the last three months as a result of various analysts’ ratings changes.

Brokerages have set a 1 year consensus price target of $30.00 for the company and are expecting that the company will post $0.35 EPS for the current quarter, according to Zacks. Zacks has also given Reliant Bancorp an industry rank of 86 out of 255 based on the ratings given to related companies.

RBNC has been the topic of a number of analyst reports. FIG Partners reaffirmed a “market-perform” rating on shares of Reliant Bancorp in a research note on Tuesday, July 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $27.00 target price on shares of Reliant Bancorp in a research note on Friday, July 27th. Finally, Zacks Investment Research raised shares of Reliant Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Wednesday, September 26th.

Shares of NASDAQ:RBNC traded down $0.54 during midday trading on Friday, hitting $23.85. The company’s stock had a trading volume of 6,000 shares, compared to its average volume of 14,479. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a market cap of $294.75 million, a P/E ratio of 22.71 and a beta of 0.32. Reliant Bancorp has a 12-month low of $21.90 and a 12-month high of $30.00.

Reliant Bancorp (NASDAQ:RBNC) last issued its earnings results on Wednesday, July 25th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Reliant Bancorp had a net margin of 13.97% and a return on equity of 7.13%. The company had revenue of $15.66 million for the quarter, compared to the consensus estimate of $16.94 million. On average, analysts expect that Reliant Bancorp will post 1.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Tuesday, October 9th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, October 5th. Reliant Bancorp’s dividend payout ratio (DPR) is presently 30.48%.

In other Reliant Bancorp news, CEO Devan D. Ard, Jr. sold 2,500 shares of Reliant Bancorp stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $27.60, for a total transaction of $69,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 5,800 shares of company stock worth $161,225 over the last ninety days. 13.09% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. American International Group Inc. purchased a new stake in shares of Reliant Bancorp in the 1st quarter valued at approximately $101,000. Acadian Asset Management LLC purchased a new stake in shares of Reliant Bancorp in the 2nd quarter valued at approximately $124,000. New York State Common Retirement Fund purchased a new stake in shares of Reliant Bancorp in the 1st quarter valued at approximately $169,000. Hartford Investment Management Co. purchased a new stake in shares of Reliant Bancorp in the 2nd quarter valued at approximately $235,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Reliant Bancorp in the 1st quarter valued at approximately $241,000. 28.35% of the stock is currently owned by institutional investors.

Reliant Bancorp Company Profile

Reliant Bancorp, Inc operates as the holding company for Reliant Bank that provides a range of commercial banking services for businesses and individuals in the Middle Tennessee region and the Nashville-Davidson-Murfreesboro-Franklin Metropolitan Statistical Area. Its deposit products include checking, savings, and money market deposit accounts; time deposits; certificates of deposit; and non-interest-bearing and interest bearing demand deposits.

Further Reading: What does RSI mean?

Get a free copy of the Zacks research report on Reliant Bancorp (RBNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Reliant Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliant Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply