Shares of Reliant Bancorp Inc (NASDAQ:RBNC) have been assigned an average rating of “Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $25.00.
Several research firms recently issued reports on RBNC. Janney Montgomery Scott cut Reliant Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. DA Davidson reissued a “buy” rating on shares of Reliant Bancorp in a research report on Monday, July 22nd. Keefe, Bruyette & Woods raised Reliant Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $25.00 to $26.00 in a research report on Thursday, October 24th. Zacks Investment Research raised Reliant Bancorp from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Saturday. Finally, Stephens assumed coverage on Reliant Bancorp in a research report on Friday, August 23rd. They issued an “equal weight” rating and a $24.00 target price on the stock.
Shares of RBNC traded up $0.01 during midday trading on Wednesday, hitting $22.54. 12,500 shares of the stock traded hands, compared to its average volume of 11,523. The firm has a market capitalization of $252.23 million, a PE ratio of 16.45 and a beta of 0.39. The business’s 50 day moving average price is $23.13 and its two-hundred day moving average price is $22.88. Reliant Bancorp has a 1-year low of $19.03 and a 1-year high of $25.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.87.
Reliant Bancorp (NASDAQ:RBNC) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Reliant Bancorp had a net margin of 18.77% and a return on equity of 7.69%. The business had revenue of $16.82 million during the quarter, compared to the consensus estimate of $17.35 million. As a group, equities research analysts forecast that Reliant Bancorp will post 1.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Tuesday, October 8th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, October 7th. Reliant Bancorp’s dividend payout ratio is presently 26.28%.
Several large investors have recently bought and sold shares of RBNC. Welch Group LLC acquired a new position in shares of Reliant Bancorp during the 2nd quarter worth $121,000. Penn Capital Management Co. Inc. increased its position in shares of Reliant Bancorp by 1.0% during the second quarter. Penn Capital Management Co. Inc. now owns 47,352 shares of the bank’s stock valued at $1,119,000 after acquiring an additional 446 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Reliant Bancorp by 4.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 23,939 shares of the bank’s stock worth $566,000 after buying an additional 1,101 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Reliant Bancorp by 3.5% in the second quarter. Northern Trust Corp now owns 106,291 shares of the bank’s stock worth $2,511,000 after acquiring an additional 3,592 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Reliant Bancorp by 6.8% in the second quarter. BlackRock Inc. now owns 547,987 shares of the bank’s stock worth $12,948,000 after acquiring an additional 34,918 shares during the period. 29.03% of the stock is currently owned by hedge funds and other institutional investors.
About Reliant Bancorp
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.
Read More: What is the Rule of 72?
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.