Reliant Bancorp (RBNC) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Reliant Bancorp (NASDAQ:RBNC) from a hold rating to a sell rating in a research report report published on Wednesday morning.

According to Zacks, “Reliant Bancorp Inc. is a commercial bank which offers deposit, lending and mortgage products and services to business and consumer customers. It operates primarily in Davidson, Robertson, Sumner, Williamson, Maury and Hickman counties. Reliant Bancorp Inc., formerly known as Commerce Union Bancshares Inc., is based in TN, United States. “

NASDAQ:RBNC traded up $0.96 on Wednesday, reaching $22.90. 4,054 shares of the company’s stock were exchanged, compared to its average volume of 7,023. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $256.13 million, a PE ratio of 16.09 and a beta of 0.25. Reliant Bancorp has a 52 week low of $19.03 and a 52 week high of $30.00.

Reliant Bancorp (NASDAQ:RBNC) last announced its earnings results on Wednesday, January 23rd. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Reliant Bancorp had a net margin of 17.86% and a return on equity of 7.79%. The company had revenue of $15.02 million for the quarter, compared to the consensus estimate of $16.76 million. Analysts anticipate that Reliant Bancorp will post 1.52 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. RMB Capital Management LLC lifted its position in Reliant Bancorp by 2.3% during the fourth quarter. RMB Capital Management LLC now owns 1,051,709 shares of the bank’s stock valued at $24,231,000 after purchasing an additional 23,886 shares during the last quarter. BlackRock Inc. raised its stake in shares of Reliant Bancorp by 3.0% during the fourth quarter. BlackRock Inc. now owns 517,348 shares of the bank’s stock worth $11,919,000 after acquiring an additional 15,121 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Reliant Bancorp by 7.8% during the third quarter. Vanguard Group Inc. now owns 394,744 shares of the bank’s stock worth $10,094,000 after acquiring an additional 28,495 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Reliant Bancorp by 7.8% during the third quarter. Vanguard Group Inc now owns 394,744 shares of the bank’s stock worth $10,094,000 after acquiring an additional 28,495 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Reliant Bancorp by 1.5% during the fourth quarter. Northern Trust Corp now owns 100,887 shares of the bank’s stock worth $2,324,000 after acquiring an additional 1,474 shares in the last quarter. Institutional investors and hedge funds own 29.56% of the company’s stock.

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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