Reliant Bancorp, Inc. (NASDAQ:RBNC) Receives Average Rating of “Buy” from Analysts

Reliant Bancorp, Inc. (NASDAQ:RBNC) has earned an average rating of “Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $26.25.

Separately, Zacks Investment Research lowered shares of Reliant Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 24th.

Reliant Bancorp stock traded up $0.36 during mid-day trading on Monday, reaching $28.13. 128,001 shares of the company traded hands, compared to its average volume of 53,855. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.90. Reliant Bancorp has a fifty-two week low of $13.00 and a fifty-two week high of $31.00. The company has a market capitalization of $464.03 million, a price-to-earnings ratio of 9.60 and a beta of 1.01. The firm’s fifty day moving average is $28.49 and its two-hundred day moving average is $28.29.

Reliant Bancorp (NASDAQ:RBNC) last issued its quarterly earnings results on Monday, July 19th. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.08. Reliant Bancorp had a net margin of 28.79% and a return on equity of 15.01%. The business had revenue of $36.87 million for the quarter, compared to analyst estimates of $35.15 million. As a group, equities research analysts predict that Reliant Bancorp will post 2.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Friday, July 30th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, July 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%. Reliant Bancorp’s payout ratio is currently 20.43%.

Large investors have recently added to or reduced their stakes in the company. Monarch Partners Asset Management LLC acquired a new stake in Reliant Bancorp during the first quarter valued at $5,522,000. Putnam Investments LLC acquired a new stake in Reliant Bancorp during the second quarter valued at $3,469,000. BlackRock Inc. grew its position in Reliant Bancorp by 6.5% during the first quarter. BlackRock Inc. now owns 930,053 shares of the bank’s stock valued at $26,711,000 after buying an additional 56,939 shares during the period. Geode Capital Management LLC grew its position in Reliant Bancorp by 15.7% during the first quarter. Geode Capital Management LLC now owns 244,950 shares of the bank’s stock valued at $7,034,000 after buying an additional 33,224 shares during the period. Finally, Yorktown Management & Research Co Inc acquired a new stake in Reliant Bancorp during the first quarter valued at $913,000. Hedge funds and other institutional investors own 37.25% of the company’s stock.

About Reliant Bancorp

Reliant Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking services through its subsidiary. It operates through the Retail Banking, and Residential Mortgage Banking segments. The Retail Banking segment provides deposit and lending services to consumer and business customers within its primary geographic markets.

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