Equities analysts expect Reliant Bancorp Inc (NASDAQ:RBNC) to report $16.78 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Reliant Bancorp’s earnings, with the highest sales estimate coming in at $17.34 million and the lowest estimate coming in at $16.21 million. Reliant Bancorp posted sales of $15.02 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.7%. The business is scheduled to report its next quarterly earnings results after the market closes on Thursday, January 23rd.
According to Zacks, analysts expect that Reliant Bancorp will report full-year sales of $63.72 million for the current year, with estimates ranging from $61.67 million to $65.77 million. For the next year, analysts forecast that the business will post sales of $102.85 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Reliant Bancorp.
Reliant Bancorp (NASDAQ:RBNC) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). The business had revenue of $16.82 million for the quarter, compared to analyst estimates of $17.35 million. Reliant Bancorp had a return on equity of 7.62% and a net margin of 18.77%.
Several brokerages recently commented on RBNC. Zacks Investment Research downgraded Reliant Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods raised Reliant Bancorp from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $25.00 to $26.00 in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Reliant Bancorp has an average rating of “Hold” and a consensus price target of $25.50.
Institutional investors have recently modified their holdings of the stock. Morgan Stanley raised 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 buying an additional 659 shares during the period. Welch Group LLC raised its stake in shares of Reliant Bancorp by 37.5% in the 3rd quarter. Welch Group LLC now owns 7,021 shares of the bank’s stock valued at $168,000 after purchasing an additional 1,914 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Reliant Bancorp in the 3rd quarter valued at about $227,000. Rhumbline Advisers raised 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 valued at $371,000 after purchasing an additional 1,185 shares during the period. Finally, Charles Schwab Investment Management Inc. raised 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 valued at $566,000 after purchasing an additional 1,101 shares during the period. 29.14% of the stock is currently owned by institutional investors and hedge funds.
Reliant Bancorp stock traded down $0.24 during mid-day trading on Friday, hitting $22.16. 9,956 shares of the company’s stock were exchanged, compared to its average volume of 21,044. The firm has a market capitalization of $248.08 million, a P/E ratio of 15.50 and a beta of 0.37. Reliant Bancorp has a fifty-two week low of $20.17 and a fifty-two week high of $25.00. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.05. The company’s 50 day simple moving average is $22.22 and its 200-day simple moving average is $22.86.
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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