Equities analysts expect Reliant Bancorp Inc (NASDAQ:RBNC) to announce $0.39 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Reliant Bancorp’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.39. Reliant Bancorp reported earnings of $0.35 per share during the same quarter last year, which would indicate a positive year over year growth rate of 11.4%. The firm is expected to announce its next quarterly earnings results on Wednesday, January 22nd.
On average, analysts expect that Reliant Bancorp will report full year earnings of $1.45 per share for the current financial year. For the next year, analysts expect that the company will report earnings of $1.92 per share, with EPS estimates ranging from $1.88 to $1.96. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Reliant Bancorp.
Reliant Bancorp (NASDAQ:RBNC) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Reliant Bancorp had a net margin of 18.77% and a return on equity of 7.69%. The firm had revenue of $16.82 million during the quarter, compared to analyst estimates of $17.35 million.
RBNC has been the topic of a number of research reports. Keefe, Bruyette & Woods raised Reliant Bancorp from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $25.00 to $26.00 in a research note on Thursday, October 24th. Stephens initiated coverage on Reliant Bancorp in a research note on Friday, August 23rd. They set an “equal weight” rating and a $24.00 price target on the stock. Zacks Investment Research downgraded Reliant Bancorp from a “buy” rating to a “hold” rating in a research note on Friday. DA Davidson reaffirmed a “buy” rating on shares of Reliant Bancorp in a research note on Monday, July 22nd. Finally, Janney Montgomery Scott downgraded Reliant Bancorp from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Reliant Bancorp has an average rating of “Hold” and an average target price of $26.00.
RBNC stock traded up $0.01 during trading on Friday, reaching $22.54. 12,500 shares of the stock were exchanged, compared to its average volume of 11,523. The firm’s 50 day moving average is $23.13 and its 200 day moving average is $22.88. Reliant Bancorp has a twelve month low of $19.03 and a twelve month high of $25.00. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. The firm has a market cap of $252.23 million, a P/E ratio of 16.45 and a beta of 0.39.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Tuesday, October 8th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Monday, October 7th. Reliant Bancorp’s payout ratio is 26.28%.
Several institutional investors and hedge funds have recently modified their holdings of RBNC. BlackRock Inc. increased its position in shares of Reliant Bancorp by 6.8% during the second quarter. BlackRock Inc. now owns 547,987 shares of the bank’s stock valued at $12,948,000 after acquiring an additional 34,918 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Reliant Bancorp in the third quarter worth about $227,000. Welch Group LLC purchased a new position in shares of Reliant Bancorp in the second quarter worth about $121,000. Northern Trust Corp increased its holdings in shares of Reliant Bancorp by 3.5% in the second quarter. Northern Trust Corp now owns 106,291 shares of the bank’s stock worth $2,511,000 after buying an additional 3,592 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Reliant Bancorp by 5.6% in the third quarter. California Public Employees Retirement System now owns 28,200 shares of the bank’s stock worth $676,000 after buying an additional 1,500 shares during the period. 29.03% of the stock is owned by institutional investors.
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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