Reliant Bancorp Inc (RBNC) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Reliant Bancorp Inc (NASDAQ:RBNC) have earned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.

Analysts have set a 12-month consensus price target of $25.25 for the company, according to Zacks. Zacks has also assigned Reliant Bancorp an industry rank of 13 out of 265 based on the ratings given to its competitors.

A number of brokerages have recently issued reports on RBNC. Hovde Group began coverage on Reliant Bancorp in a research report on Wednesday, October 11th. They set an “outperform” rating and a $26.50 price objective for the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $24.00 target price on shares of Reliant Bancorp in a report on Wednesday, November 1st.

In other Reliant Bancorp news, Director William Ronald Deberry sold 7,500 shares of Reliant Bancorp stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $24.18, for a total value of $181,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.51% of the company’s stock.

An institutional investor recently bought a new position in Reliant Bancorp stock. Patten Group Inc. acquired a new stake in Reliant Bancorp Inc (NASDAQ:RBNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,227 shares of the bank’s stock, valued at approximately $211,000. Patten Group Inc. owned 0.07% of Reliant Bancorp as of its most recent filing with the Securities & Exchange Commission. 22.05% of the stock is currently owned by institutional investors.

Shares of Reliant Bancorp (NASDAQ:RBNC) traded up $0.94 on Tuesday, hitting $24.95. The stock had a trading volume of 1,159 shares, compared to its average volume of 6,417. Reliant Bancorp has a 52 week low of $20.42 and a 52 week high of $27.49. The company has a market capitalization of $280.84, a P/E ratio of 28.03 and a beta of 0.23.

The firm also recently announced a quarterly dividend, which was paid on Saturday, January 20th. Shareholders of record on Wednesday, January 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.96%. Reliant Bancorp’s payout ratio is currently 26.97%.

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Reliant Bancorp Company Profile

Reliant Bancorp, Inc, formerly Commerce Union Bancshares, Inc, serves as the bank holding company for Reliant Bank. The Company has two segments: Retail Banking and Residential Mortgage Banking. Retail Banking provides deposit and lending services to consumer and business customers within its primary geographic markets.

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