Equities research analysts expect Reliant Bancorp Inc (NASDAQ:RBNC) to post sales of $30.62 million for the current quarter, according to Zacks. Three analysts have issued estimates for Reliant Bancorp’s earnings, with estimates ranging from $29.83 million to $32.02 million. Reliant Bancorp reported sales of $16.82 million in the same quarter last year, which indicates a positive year over year growth rate of 82%. The business is expected to announce its next earnings results on Tuesday, October 27th.
On average, analysts expect that Reliant Bancorp will report full year sales of $116.09 million for the current year, with estimates ranging from $113.80 million to $119.20 million. For the next year, analysts forecast that the business will post sales of $118.77 million, with estimates ranging from $115.20 million to $122.19 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Reliant Bancorp.
Reliant Bancorp (NASDAQ:RBNC) last posted its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.32. Reliant Bancorp had a net margin of 13.74% and a return on equity of 9.21%. The business had revenue of $34.38 million for the quarter, compared to analyst estimates of $28.83 million.
A number of research analysts recently commented on RBNC shares. Zacks Investment Research raised Reliant Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Raymond James started coverage on Reliant Bancorp in a research note on Tuesday, June 9th. They issued a “market perform” rating for the company. ValuEngine downgraded Reliant Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Finally, BidaskClub downgraded Reliant Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, August 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.00.
In other Reliant Bancorp news, insider William M. Fitzgerald II bought 7,300 shares of the stock in a transaction on Friday, August 21st. The stock was purchased at an average price of $15.39 per share, with a total value of $112,347.00. Following the completion of the purchase, the insider now owns 7,300 shares in the company, valued at $112,347. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have acquired 8,900 shares of company stock valued at $136,075. Insiders own 12.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of Reliant Bancorp by 33.6% during the first quarter. Citigroup Inc. now owns 3,911 shares of the bank’s stock worth $44,000 after purchasing an additional 983 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Reliant Bancorp by 9.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,091 shares of the bank’s stock worth $136,000 after purchasing an additional 1,005 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Reliant Bancorp by 12.3% in the first quarter. JPMorgan Chase & Co. now owns 11,383 shares of the bank’s stock valued at $128,000 after acquiring an additional 1,245 shares during the last quarter. Bank of America Corp DE boosted its holdings in Reliant Bancorp by 20.5% in the second quarter. Bank of America Corp DE now owns 17,284 shares of the bank’s stock valued at $281,000 after acquiring an additional 2,939 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Reliant Bancorp by 75,575.0% in the first quarter. Tower Research Capital LLC TRC now owns 3,027 shares of the bank’s stock valued at $34,000 after acquiring an additional 3,023 shares during the last quarter. Institutional investors own 30.14% of the company’s stock.
Shares of RBNC traded up $0.42 during trading hours on Thursday, hitting $14.86. The stock had a trading volume of 69,598 shares, compared to its average volume of 30,050. The stock has a market capitalization of $241.40 million, a price-to-earnings ratio of 12.49 and a beta of 1.11. The company’s fifty day moving average is $15.15 and its two-hundred day moving average is $14.69. Reliant Bancorp has a 52 week low of $9.45 and a 52 week high of $24.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.97 and a quick ratio of 0.93.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Thursday, August 6th. Reliant Bancorp’s payout ratio is 25.97%.
About Reliant Bancorp
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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