Shares of Reliant Bancorp Inc (NASDAQ:RBNC) have received an average rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $25.00.
A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Reliant Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $25.00 to $26.00 in a research report on Thursday, October 24th. Zacks Investment Research raised shares of Reliant Bancorp from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Saturday. Janney Montgomery Scott downgraded shares of Reliant Bancorp from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Stephens assumed coverage on shares of Reliant Bancorp in a research report on Friday, August 23rd. They issued an “equal weight” rating and a $24.00 target price on the stock. Finally, DA Davidson reaffirmed a “buy” rating on shares of Reliant Bancorp in a research report on Monday, July 22nd.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley boosted its stake in Reliant Bancorp by 37.5% during the 2nd quarter. Morgan Stanley now owns 2,417 shares of the bank’s stock worth $56,000 after purchasing an additional 659 shares during the period. Welch Group LLC acquired a new stake in shares of Reliant Bancorp in the 2nd quarter worth $121,000. Russell Investments Group Ltd. acquired a new stake in shares of Reliant Bancorp in the 3rd quarter worth $227,000. Rhumbline Advisers lifted its stake in shares of Reliant Bancorp by 8.3% in the 3rd quarter. Rhumbline Advisers now owns 15,489 shares of the bank’s stock worth $371,000 after acquiring an additional 1,185 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Reliant Bancorp by 4.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 23,939 shares of the bank’s stock worth $566,000 after acquiring an additional 1,101 shares during the period. 29.03% of the stock is currently owned by hedge funds and other institutional investors.
Reliant Bancorp (NASDAQ:RBNC) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.02). The company had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $17.35 million. Reliant Bancorp had a net margin of 18.77% and a return on equity of 7.69%. As a group, equities analysts anticipate that Reliant Bancorp will post 1.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Tuesday, October 8th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, October 7th. Reliant Bancorp’s dividend payout ratio (DPR) is 26.28%.
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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