Reliant Bancorp Inc (NASDAQ:RBNC) Announces $0.09 Quarterly Dividend

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.

Reliant Bancorp (NASDAQ:RBNC) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). The company had revenue of $15.40 million during the quarter, compared to the consensus estimate of $16.36 million. Reliant Bancorp had a net margin of 17.64% and a return on equity of 7.64%. As a group, equities analysts predict that Reliant Bancorp will post 1.53 earnings per share for the current year.

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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Dividend History for Reliant Bancorp (NASDAQ:RBNC)

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