DA Davidson began coverage on shares of Reliant Bancorp (NASDAQ:RBNC) in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $27.00 price objective on the bank’s stock.
Several other analysts have also issued reports on RBNC. FIG Partners reiterated an outperform rating on shares of Reliant Bancorp in a report on Monday, April 8th. Sandler O’Neill initiated coverage on Reliant Bancorp in a report on Thursday, April 11th. They set a hold rating for the company. Finally, Zacks Investment Research lowered W. R. Grace & Co from a buy rating to a hold rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $26.75.
Shares of Reliant Bancorp stock opened at $22.82 on Thursday. The firm has a market capitalization of $257.75 million, a PE ratio of 16.54 and a beta of 0.36. The stock has a fifty day simple moving average of $22.42. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.05. Reliant Bancorp has a 12 month low of $19.03 and a 12 month high of $30.00.
Reliant Bancorp (NASDAQ:RBNC) last issued its earnings results on Wednesday, April 24th. The bank reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). The business had revenue of $15.40 million during the quarter, compared to analyst estimates of $16.36 million. Reliant Bancorp had a return on equity of 7.64% and a net margin of 17.64%. As a group, research analysts anticipate that Reliant Bancorp will post 1.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Monday, July 8th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, July 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.58%. Reliant Bancorp’s dividend payout ratio is 26.28%.
Large investors have recently made changes to their positions in the stock. Penn Capital Management Co. Inc. raised its holdings in shares of Reliant Bancorp by 3.5% during the first quarter. Penn Capital Management Co. Inc. now owns 46,906 shares of the bank’s stock worth $1,047,000 after acquiring an additional 1,578 shares in the last quarter. Rhumbline Advisers raised its holdings in Reliant Bancorp by 46.3% during the fourth quarter. Rhumbline Advisers now owns 14,065 shares of the bank’s stock valued at $324,000 after buying an additional 4,454 shares in the last quarter. BlackRock Inc. raised its holdings in Reliant Bancorp by 3.0% during the fourth quarter. BlackRock Inc. now owns 517,348 shares of the bank’s stock valued at $11,919,000 after buying an additional 15,121 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Reliant Bancorp by 14.9% during the fourth quarter. Bank of New York Mellon Corp now owns 43,721 shares of the bank’s stock valued at $1,007,000 after buying an additional 5,676 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in Reliant Bancorp by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,657 shares of the bank’s stock valued at $84,000 after buying an additional 2,856 shares in the last quarter. Institutional investors and hedge funds own 31.17% of the company’s stock.
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.
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