Analysts Set $25.25 Target Price for Reliant Bancorp (RBNC)

Shares of Reliant Bancorp (NASDAQ:RBNC) have been assigned an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Brokers have set a one year consensus price objective of $25.25 for the company, according to Zacks. Zacks has also assigned Reliant Bancorp an industry rank of 122 out of 265 based on the ratings given to its competitors.

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In other news, Director Farzin Ferdowsi purchased 2,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $23.70 per share, for a total transaction of $47,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.51% of the stock is currently owned by company insiders.

An institutional investor recently bought a new position in Reliant Bancorp stock. Patten Group Inc. purchased a new stake in shares of Reliant Bancorp (NASDAQ:RBNC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,227 shares of the bank’s stock, valued at approximately $211,000. Patten Group Inc. owned 0.07% of Reliant Bancorp as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 21.17% of the company’s stock.

RBNC traded up $0.25 during trading hours on Tuesday, hitting $23.17. The company’s stock had a trading volume of 3,495 shares, compared to its average volume of 8,652. Reliant Bancorp has a fifty-two week low of $21.31 and a fifty-two week high of $27.49. The stock has a market cap of $264.49, a P/E ratio of 21.94 and a beta of 0.33.

Reliant Bancorp (NASDAQ:RBNC) last posted its earnings results on Thursday, January 25th. The bank reported $0.26 EPS for the quarter. Reliant Bancorp had a return on equity of 6.98% and a net margin of 15.69%. The firm had revenue of $10.47 million for the quarter.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Tuesday, April 10th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, April 9th. This is a boost from Reliant Bancorp’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 1.38%.

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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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