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.
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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