Reliant Bancorp (NASDAQ:RBNC) announced its quarterly earnings results on Wednesday. The bank reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01), Morningstar.com reports. Reliant Bancorp had a net margin of 17.86% and a return on equity of 7.73%. The company had revenue of $15.40 million for the quarter, compared to the consensus estimate of $16.36 million.
Shares of RBNC stock traded down $0.20 during trading on Thursday, hitting $22.70. The company had a trading volume of 4 shares, compared to its average volume of 6,284. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The stock has a market cap of $258.68 million, a price-to-earnings ratio of 16.57 and a beta of 0.25. Reliant Bancorp has a 52 week low of $19.03 and a 52 week high of $30.00.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Monday, April 8th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, April 5th. Reliant Bancorp’s dividend payout ratio (DPR) is 26.28%.
Several equities research analysts have recently weighed in on RBNC shares. Zacks Investment Research cut Reliant Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, December 26th. FIG Partners reiterated an “outperform” rating on shares of Reliant Bancorp in a research report on Monday, April 8th. Finally, Sandler O’Neill started coverage on Reliant Bancorp in a research report on Thursday, April 11th. They set a “hold” rating on the stock.
Several hedge funds have recently bought and sold shares of RBNC. Metropolitan Life Insurance Co. NY grew its position in Reliant Bancorp by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,657 shares of the bank’s stock valued at $84,000 after acquiring an additional 2,856 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Reliant Bancorp during the third quarter valued at approximately $205,000. Rhumbline Advisers grew its position in Reliant Bancorp by 46.3% during the fourth quarter. Rhumbline Advisers now owns 14,065 shares of the bank’s stock valued at $324,000 after acquiring an additional 4,454 shares during the last quarter. First Trust Advisors LP grew its position in Reliant Bancorp by 18.7% during the fourth quarter. First Trust Advisors LP now owns 18,087 shares of the bank’s stock valued at $417,000 after acquiring an additional 2,855 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Reliant Bancorp by 21.0% during the fourth quarter. Bank of America Corp DE now owns 18,830 shares of the bank’s stock valued at $434,000 after acquiring an additional 3,268 shares during the last quarter. Institutional investors own 29.79% of the company’s stock.
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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