Reliant Bancorp (NASDAQ:RBNC) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of Reliant Bancorp (NASDAQ:RBNC) from a hold rating to a sell rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other research firms have also issued reports on RBNC. Zacks Investment Research lowered Reliant Bancorp from a hold rating to a sell rating in a research note on Saturday, March 28th. TheStreet lowered Reliant Bancorp from a b- rating to a c+ rating in a research report on Friday, March 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $23.40.

RBNC traded up $0.27 during mid-day trading on Thursday, hitting $10.01. 128,359 shares of the stock were exchanged, compared to its average volume of 42,758. The firm’s fifty day moving average is $16.90 and its two-hundred day moving average is $21.15. Reliant Bancorp has a 1-year low of $9.45 and a 1-year high of $25.00. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. The company has a market cap of $114.13 million, a PE ratio of 6.95 and a beta of 0.98.

Reliant Bancorp (NASDAQ:RBNC) last posted its earnings results on Thursday, January 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.08. Reliant Bancorp had a return on equity of 8.07% and a net margin of 17.77%. The firm had revenue of $19.04 million for the quarter, compared to analyst estimates of $16.78 million. As a group, research analysts anticipate that Reliant Bancorp will post 1.61 earnings per share for the current year.

In other Reliant Bancorp news, Director Sharon Hughes Edwards acquired 2,500 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $17.75 per share, for a total transaction of $44,375.00. Also, Director Homayoun Aminmadani acquired 5,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $21.26 per share, for a total transaction of $106,300.00. In the last quarter, insiders bought 9,500 shares of company stock worth $193,455. Company insiders own 9.66% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Reliant Bancorp by 0.8% during the 3rd quarter. State Street Corp now owns 172,102 shares of the bank’s stock worth $4,127,000 after buying an additional 1,420 shares during the last quarter. Citigroup Inc. grew its stake in Reliant Bancorp by 109.9% during the 4th quarter. Citigroup Inc. now owns 2,928 shares of the bank’s stock worth $66,000 after buying an additional 1,533 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Reliant Bancorp by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,945 shares of the bank’s stock worth $555,000 after buying an additional 1,006 shares during the last quarter. Barclays PLC grew its stake in Reliant Bancorp by 100.9% during the 4th quarter. Barclays PLC now owns 10,362 shares of the bank’s stock worth $230,000 after buying an additional 5,203 shares during the last quarter. Finally, Mendon Capital Advisors Corp acquired a new stake in Reliant Bancorp during the 4th quarter worth approximately $774,000. Hedge funds and other institutional investors own 28.90% 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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Analyst Recommendations for Reliant Bancorp (NASDAQ:RBNC)

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