Zacks: Reliant Bancorp Inc (RBNC) Given Average Rating of “Strong Buy” by Analysts

Shares of Reliant Bancorp Inc (NASDAQ:RBNC) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus target price of $25.50 for the company and are anticipating that the company will post $0.34 earnings per share for the current quarter, according to Zacks. Zacks has also given Reliant Bancorp an industry rank of 34 out of 255 based on the ratings given to its competitors.

Separately, Zacks Investment Research cut Reliant Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th.

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp increased its stake in Reliant Bancorp by 34.8% during the second quarter. Northern Trust Corp now owns 96,855 shares of the bank’s stock valued at $2,717,000 after acquiring an additional 25,003 shares during the period. First Trust Advisors LP bought a new position in Reliant Bancorp during the third quarter valued at about $389,000. Bank of New York Mellon Corp grew its stake 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 valued at $973,000 after purchasing an additional 3,685 shares during the period. Trustcore Financial Services LLC grew its stake in shares of Reliant Bancorp by 12.1% in 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 during the period. Finally, BlackRock Inc. grew its stake in shares of Reliant Bancorp by 2.0% in the 3rd quarter. BlackRock Inc. now owns 502,227 shares of the bank’s stock valued at $12,843,000 after purchasing an additional 9,656 shares during the period. Institutional investors and hedge funds own 29.79% of the company’s stock.

Shares of NASDAQ:RBNC traded up $0.65 on Friday, reaching $23.50. The company had a trading volume of 49,071 shares, compared to its average volume of 8,366. Reliant Bancorp has a twelve month low of $19.03 and a twelve month high of $30.00. The stock has a market capitalization of $262.54 million, a P/E ratio of 17.15 and a beta of 0.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.84.

Reliant Bancorp (NASDAQ:RBNC) last announced its quarterly earnings results on Wednesday, January 23rd. The bank reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Reliant Bancorp had a return on equity of 7.73% and a net margin of 17.86%. The company had revenue of $15.02 million during the quarter, compared to analyst estimates of $16.76 million. As a group, research analysts expect that Reliant Bancorp will post 1.52 EPS for the current fiscal year.

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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