Wall Street analysts expect Reliant Bancorp Inc (NASDAQ:RBNC) to announce earnings of $0.45 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Reliant Bancorp’s earnings. The highest EPS estimate is $0.51 and the lowest is $0.37. Reliant Bancorp posted earnings of $0.38 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 18.4%. The business is expected to announce its next earnings report on Tuesday, October 27th.
According to Zacks, analysts expect that Reliant Bancorp will report full year earnings of $1.54 per share for the current fiscal year, with EPS estimates ranging from $1.46 to $1.64. For the next fiscal year, analysts expect that the firm will post earnings of $1.63 per share, with EPS estimates ranging from $1.42 to $1.76. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Reliant Bancorp.
Reliant Bancorp (NASDAQ:RBNC) last announced its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.32. Reliant Bancorp had a return on equity of 9.21% and a net margin of 13.74%. The firm had revenue of $34.38 million during the quarter, compared to analyst estimates of $28.83 million.
Several research firms have recently weighed in on RBNC. Zacks Investment Research upgraded Reliant Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Raymond James began coverage on Reliant Bancorp in a research note on Tuesday, June 9th. They set a “market perform” rating for the company. BidaskClub downgraded Reliant Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, August 28th. Finally, ValuEngine downgraded Reliant Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $21.00.
In related news, insider William M. Fitzgerald II bought 7,300 shares of the business’s stock in a transaction on Friday, August 21st. The stock was acquired at an average price of $15.39 per share, for a total transaction of $112,347.00. Following the purchase, the insider now directly owns 7,300 shares in the company, valued at $112,347. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders acquired 8,900 shares of company stock valued at $136,075. 12.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Reliant Bancorp by 4.7% in the 1st quarter. BlackRock Inc. now owns 602,145 shares of the bank’s stock worth $6,785,000 after purchasing an additional 27,043 shares during the period. Banc Funds Co. LLC boosted its stake in Reliant Bancorp by 58.5% in the 2nd quarter. Banc Funds Co. LLC now owns 512,561 shares of the bank’s stock worth $8,350,000 after purchasing an additional 189,197 shares during the period. Patriot Financial Partners GP LP boosted its stake in Reliant Bancorp by 239.5% in the 2nd quarter. Patriot Financial Partners GP LP now owns 388,512 shares of the bank’s stock worth $6,329,000 after purchasing an additional 274,087 shares during the period. Stilwell Value LLC bought a new position in Reliant Bancorp in the 2nd quarter worth about $3,640,000. Finally, State Street Corp boosted its stake in Reliant Bancorp by 12.0% in the 1st quarter. State Street Corp now owns 196,238 shares of the bank’s stock worth $2,212,000 after purchasing an additional 21,006 shares during the period. Institutional investors and hedge funds own 30.14% of the company’s stock.
Shares of Reliant Bancorp stock traded up $0.42 during trading hours on Tuesday, hitting $14.86. 69,598 shares of the company’s stock traded hands, compared to its average volume of 30,050. 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 stock has a market capitalization of $241.40 million, a price-to-earnings ratio of 12.49 and a beta of 1.11. Reliant Bancorp has a 12-month low of $9.45 and a 12-month high of $24.87. The company has a fifty day simple moving average of $15.15 and a 200-day simple moving average of $14.69.
The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.40 annualized dividend and a yield of 2.69%. Reliant Bancorp’s dividend payout ratio is currently 25.97%.
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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