Shares of Reliant Bancorp Inc (NASDAQ:RBNC) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation. Reliant Bancorp’s rating score has improved by 57.1% from three months ago as a result of a number of analysts’ ratings changes.
Brokers have set a 12-month consensus target price of $27.50 for the company and are expecting that the company will post $0.37 EPS for the current quarter, according to Zacks. Zacks has also given Reliant Bancorp an industry rank of 104 out of 257 based on the ratings given to related companies.
RBNC has been the subject of a number of research analyst reports. Zacks Investment Research raised Reliant Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, October 30th. FIG Partners raised Reliant Bancorp from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research note on Thursday, October 25th.
Shares of RBNC stock opened at $22.77 on Friday. Reliant Bancorp has a 52-week low of $19.81 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market cap of $262.58 million, a P/E ratio of 21.69 and a beta of 0.41.
Reliant Bancorp (NASDAQ:RBNC) last issued its quarterly earnings results on Wednesday, October 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. Reliant Bancorp had a return on equity of 7.57% and a net margin of 15.62%. The firm had revenue of $16.24 million during the quarter, compared to analyst estimates of $17.06 million. Research analysts expect that Reliant Bancorp will post 1.41 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Trustcore Financial Services LLC raised its position in Reliant Bancorp by 12.1% during the 3rd quarter. Trustcore Financial Services LLC now owns 21,339 shares of the bank’s stock valued at $546,000 after purchasing an additional 2,306 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Reliant Bancorp by 10.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 38,045 shares of the bank’s stock worth $973,000 after acquiring an additional 3,685 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Reliant Bancorp in the 2nd quarter worth $124,000. Schwab Charles Investment Management Inc. raised its position in shares of Reliant Bancorp by 62.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,000 shares of the bank’s stock worth $533,000 after acquiring an additional 7,300 shares in the last quarter. Finally, MetLife Investment Advisors LLC bought a new position in shares of Reliant Bancorp in the 3rd quarter worth $205,000. 29.33% of the stock is owned by institutional investors and hedge funds.
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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