Reliant Bancorp Inc (NASDAQ:RBNC) – Stock analysts at FIG Partners decreased their Q4 2019 EPS estimates for shares of Reliant Bancorp in a research report issued to clients and investors on Tuesday, December 4th. FIG Partners analyst K. Fitzsimmons now expects that the bank will post earnings of $0.40 per share for the quarter, down from their previous forecast of $0.41. FIG Partners has a “Outperform” rating and a $28.00 price objective on the stock. FIG Partners also issued estimates for Reliant Bancorp’s Q1 2020 earnings at $0.39 EPS and FY2020 earnings at $1.69 EPS.
Separately, Zacks Investment Research upgraded shares of Reliant Bancorp from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday, October 30th.
Shares of NASDAQ RBNC opened at $23.69 on Thursday. The stock has a market capitalization of $263.84 million, a PE ratio of 22.56 and a beta of 0.41. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. Reliant Bancorp has a 52 week low of $19.81 and a 52 week high of $30.00.
Reliant Bancorp (NASDAQ:RBNC) last issued its earnings results on Wednesday, October 24th. The bank reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business had revenue of $16.24 million during the quarter, compared to analysts’ expectations of $17.06 million. Reliant Bancorp had a net margin of 15.62% and a return on equity of 7.57%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Trustcore Financial Services LLC increased its position in Reliant Bancorp by 12.1% during the third quarter. Trustcore Financial Services LLC now owns 21,339 shares of the bank’s stock worth $546,000 after purchasing an additional 2,306 shares during the last quarter. Bank of New York Mellon Corp increased its position in Reliant Bancorp by 10.7% during the third quarter. Bank of New York Mellon Corp now owns 38,045 shares of the bank’s stock worth $973,000 after purchasing an additional 3,685 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Reliant Bancorp during the second quarter worth about $124,000. Schwab Charles Investment Management Inc. increased its position in Reliant Bancorp by 62.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 19,000 shares of the bank’s stock worth $533,000 after purchasing an additional 7,300 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in Reliant Bancorp during the third quarter worth about $205,000. Hedge funds and other institutional investors own 29.33% of the company’s stock.
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.
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