Reliant Bancorp (RBNC) Raised to “Hold” at Zacks Investment Research

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Reliant Bancorp (NASDAQ:RBNC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Reliant Bancorp Inc. is a commercial bank which offers deposit, lending and mortgage products and services to business and consumer customers. It operates primarily in Davidson, Robertson, Sumner, Williamson, Maury and Hickman counties. Reliant Bancorp Inc., formerly known as Commerce Union Bancshares Inc., is based in TN, United States. “

Separately, FIG Partners upgraded Reliant Bancorp from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a report on Thursday, October 25th.

NASDAQ:RBNC traded up $0.20 during trading hours on Wednesday, reaching $21.97. 112 shares of the company traded hands, compared to its average volume of 10,182. The stock has a market cap of $253.31 million, a PE ratio of 16.04 and a beta of 0.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.85. Reliant Bancorp has a 1-year low of $19.03 and a 1-year high of $30.00.

Reliant Bancorp (NASDAQ:RBNC) last announced its earnings results on Wednesday, January 23rd. The bank reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $15.02 million for the quarter, compared to analyst estimates of $16.76 million. Reliant Bancorp had a net margin of 17.86% and a return on equity of 7.79%. As a group, equities research analysts predict that Reliant Bancorp will post 1.52 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its holdings in shares of Reliant Bancorp by 46.3% during the fourth quarter. Rhumbline Advisers now owns 14,065 shares of the bank’s stock worth $324,000 after purchasing an additional 4,454 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Reliant Bancorp by 7.8% during the third quarter. Vanguard Group Inc now owns 394,744 shares of the bank’s stock worth $10,094,000 after purchasing an additional 28,495 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Reliant Bancorp by 7.8% during the third quarter. Vanguard Group Inc. now owns 394,744 shares of the bank’s stock worth $10,094,000 after purchasing an additional 28,495 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Reliant Bancorp during the third quarter worth $205,000. Finally, BlackRock Inc. boosted its holdings in shares of Reliant Bancorp by 2.0% during the third quarter. BlackRock Inc. now owns 502,227 shares of the bank’s stock worth $12,843,000 after purchasing an additional 9,656 shares during the last quarter. Institutional investors and hedge funds own 29.33% of the company’s stock.

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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