Reliant Bancorp (NASDAQ:RBNC) Issues Earnings Results, Beats Expectations By $0.20 EPS

Reliant Bancorp (NASDAQ:RBNC) released its quarterly earnings results on Friday. The bank reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.20, MarketWatch Earnings reports. Reliant Bancorp had a net margin of 17.44% and a return on equity of 11.22%.

RBNC stock traded up $0.69 during mid-day trading on Friday, hitting $20.26. 34,728 shares of the company were exchanged, compared to its average volume of 43,445. The company has a market capitalization of $330.20 million, a PE ratio of 13.33 and a beta of 1.01. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. Reliant Bancorp has a twelve month low of $9.45 and a twelve month high of $23.41. The firm has a fifty day simple moving average of $19.23 and a 200 day simple moving average of $16.64.

In related news, insider Kim York acquired 2,620 shares of the firm’s stock in a transaction on Wednesday, December 16th. The stock was bought at an average cost of $19.02 per share, with a total value of $49,832.40. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have acquired 4,495 shares of company stock valued at $82,223. 12.30% of the stock is owned by company insiders.

RBNC has been the subject of a number of recent analyst reports. TheStreet raised shares of Reliant Bancorp from a “c” rating to a “b-” rating in a report on Monday, October 26th. Piper Sandler raised their price target on shares of Reliant Bancorp from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, October 26th. Finally, Zacks Investment Research lowered shares of Reliant Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 29th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Reliant Bancorp has a consensus rating of “Buy” and a consensus price target of $18.00.

About Reliant Bancorp

Reliant Bancorp, Inc operates as a financial 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. It operates in two segments, Retail Banking and Residential Mortgage Banking.

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Earnings History for Reliant Bancorp (NASDAQ:RBNC)

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