TheStreet upgraded shares of Reliant Bancorp (NASDAQ:RBNC) from a c rating to a b- rating in a research note published on Monday, TheStreetRatingsTable reports.
A number of other research firms also recently commented on RBNC. BidaskClub upgraded Reliant Bancorp from a hold rating to a buy rating in a report on Wednesday. Zacks Investment Research downgraded Reliant Bancorp from a buy rating to a hold rating in a report on Tuesday, September 29th. Piper Sandler increased their price target on Reliant Bancorp from $19.00 to $21.00 and gave the stock an overweight rating in a report on Monday. Finally, ValuEngine upgraded Reliant Bancorp from a sell rating to a hold rating in a report on Friday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Reliant Bancorp currently has an average rating of Hold and an average target price of $18.00.
NASDAQ RBNC opened at $16.75 on Monday. The stock has a 50-day simple moving average of $15.16 and a 200 day simple moving average of $14.52. The company has a market capitalization of $272.10 million, a PE ratio of 14.08 and a beta of 1.08. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. Reliant Bancorp has a 12 month low of $9.45 and a 12 month high of $23.41.
Reliant Bancorp (NASDAQ:RBNC) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.25. Reliant Bancorp had a return on equity of 9.21% and a net margin of 13.74%. As a group, sell-side analysts predict that Reliant Bancorp will post 1.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.40 annualized dividend and a dividend yield of 2.39%. Reliant Bancorp’s dividend payout ratio is currently 25.97%.
In other news, insider William M. Fitzgerald II acquired 7,300 shares of Reliant Bancorp stock in a transaction dated Friday, August 21st. The stock was bought at an average cost of $15.39 per share, with a total value of $112,347.00. Following the completion of the transaction, the insider now directly owns 7,300 shares of the company’s stock, valued at $112,347. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 10,112 shares of company stock valued at $155,817 over the last ninety days. 12.30% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Banc Funds Co. LLC boosted its position in shares of Reliant Bancorp by 58.5% during the second quarter. Banc Funds Co. LLC now owns 512,561 shares of the bank’s stock worth $8,350,000 after buying an additional 189,197 shares during the period. Patriot Financial Partners GP LP boosted its position in Reliant Bancorp by 239.5% during the second quarter. Patriot Financial Partners GP LP now owns 388,512 shares of the bank’s stock valued at $6,329,000 after purchasing an additional 274,087 shares during the last quarter. Stilwell Value LLC acquired a new position in Reliant Bancorp during the second quarter valued at approximately $3,640,000. State Street Corp boosted its position in Reliant Bancorp by 12.0% during the first quarter. State Street Corp now owns 196,238 shares of the bank’s stock valued at $2,212,000 after purchasing an additional 21,006 shares during the last quarter. Finally, PL Capital Advisors LLC acquired a new position in Reliant Bancorp during the second quarter valued at approximately $2,829,000. 30.14% of the stock is owned by institutional investors.
Reliant Bancorp Company Profile
Reliant Bancorp, Inc operates as a financial 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. It operates in two segments, Retail Banking and Residential Mortgage Banking.
See Also: Terms to Better Understand Call Options
Receive News & Ratings for Reliant Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliant Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.