Reliant Bancorp Inc (NASDAQ:RBNC) announced a quarterly dividend on Tuesday, June 25th, NASDAQ reports. Stockholders of record on Monday, July 8th will be paid a dividend of 0.09 per share by the bank on Thursday, July 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, July 5th.
Reliant Bancorp has a dividend payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Reliant Bancorp to earn $1.69 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 21.3%.
Shares of Reliant Bancorp stock opened at $23.53 on Thursday. The stock’s 50 day moving average price is $22.25. Reliant Bancorp has a 1-year low of $19.03 and a 1-year high of $30.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $263.50 million, a P/E ratio of 17.18 and a beta of 0.36.
Several research firms have recently weighed in on RBNC. Zacks Investment Research upgraded shares of Reliant Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, May 1st. FIG Partners restated an “outperform” rating on shares of Reliant Bancorp in a report on Monday, April 8th. Finally, Sandler O’Neill initiated coverage on shares of Reliant Bancorp in a report on Thursday, April 11th. They issued a “hold” rating for the company.
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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