Brokerages predict that Reliant Bancorp Inc (NASDAQ:RBNC) will post earnings of $0.39 per share for the current quarter, according to Zacks. Two analysts have made estimates for Reliant Bancorp’s earnings, with estimates ranging from $0.38 to $0.39. Reliant Bancorp reported earnings of $0.35 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.4%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, January 23rd.
On average, analysts expect that Reliant Bancorp will report full-year earnings of $1.45 per share for the current year. For the next fiscal year, analysts expect that the firm will report earnings of $1.86 per share, with EPS estimates ranging from $1.83 to $1.88. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Reliant Bancorp.
Reliant Bancorp (NASDAQ:RBNC) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). Reliant Bancorp had a return on equity of 7.62% and a net margin of 18.77%. The business had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $17.35 million.
Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Reliant Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $25.00 to $26.00 in a research note on Thursday, October 24th. Zacks Investment Research cut shares of Reliant Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.50.
A number of hedge funds have recently modified their holdings of the stock. Morgan Stanley increased its holdings in Reliant Bancorp by 37.5% in the 2nd quarter. Morgan Stanley now owns 2,417 shares of the bank’s stock worth $56,000 after buying an additional 659 shares in the last quarter. Welch Group LLC grew its holdings in Reliant Bancorp by 37.5% in the third quarter. Welch Group LLC now owns 7,021 shares of the bank’s stock worth $168,000 after purchasing an additional 1,914 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Reliant Bancorp during the 3rd quarter worth $227,000. Rhumbline Advisers grew its stake in Reliant Bancorp by 8.3% during the 3rd quarter. Rhumbline Advisers now owns 15,489 shares of the bank’s stock worth $371,000 after buying an additional 1,185 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Reliant Bancorp by 4.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 23,939 shares of the bank’s stock valued at $566,000 after buying an additional 1,101 shares in the last quarter. Institutional investors own 29.14% of the company’s stock.
Shares of Reliant Bancorp stock remained flat at $$22.38 on Thursday. 4,983 shares of the stock were exchanged, compared to its average volume of 14,857. The stock’s 50-day moving average price is $22.19 and its 200 day moving average price is $22.89. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. Reliant Bancorp has a 52-week low of $20.17 and a 52-week high of $25.00. The stock has a market capitalization of $248.20 million, a P/E ratio of 16.33 and a beta of 0.37.
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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