Wall Street brokerages forecast that Reliant Bancorp Inc (NASDAQ:RBNC) will report earnings of $0.39 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Reliant Bancorp’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.39. Reliant Bancorp posted earnings per share of $0.35 in the same quarter last year, which suggests a positive year-over-year growth rate of 11.4%. The company is expected to report its next quarterly earnings report on Wednesday, January 22nd.
On average, analysts expect that Reliant Bancorp will report full-year earnings of $1.45 per share for the current year. For the next year, analysts anticipate that the business will post earnings of $1.92 per share, with EPS estimates ranging from $1.88 to $1.96. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Reliant Bancorp.
Reliant Bancorp (NASDAQ:RBNC) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.02). The company had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.35 million. Reliant Bancorp had a net margin of 18.77% and a return on equity of 7.62%.
A number of research analysts have issued reports on RBNC shares. Keefe, Bruyette & Woods upgraded 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 upgraded 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, November 9th. Finally, Stephens started 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Reliant Bancorp has a consensus rating of “Buy” and a consensus target price of $25.50.
RBNC stock traded up $0.30 during midday trading on Friday, reaching $21.90. The company had a trading volume of 31,650 shares, compared to its average volume of 9,639. 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 current ratio of 0.87 and a quick ratio of 0.86. The stock has a 50 day moving average price of $22.53 and a 200-day moving average price of $22.87. The company has a market capitalization of $241.82 million, a price-to-earnings ratio of 15.00 and a beta of 0.38.
A number of institutional investors have recently added to or reduced their stakes in the business. Penn Capital Management Co. Inc. grew its position in Reliant Bancorp by 1.0% in 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. Morgan Stanley grew its position in Reliant Bancorp by 37.5% in the second quarter. Morgan Stanley now owns 2,417 shares of the bank’s stock valued at $56,000 after acquiring an additional 659 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $566,000 after acquiring an additional 1,101 shares during the last quarter. Rhumbline Advisers grew its position in Reliant Bancorp by 8.3% in the third quarter. Rhumbline Advisers now owns 15,489 shares of the bank’s stock valued at $371,000 after acquiring an additional 1,185 shares during the last quarter. Finally, State Street Corp grew its position in Reliant Bancorp by 0.8% in the third quarter. State Street Corp now owns 172,102 shares of the bank’s stock valued at $4,127,000 after acquiring an additional 1,420 shares during the last quarter. Hedge funds and other institutional investors own 29.14% 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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