$16.78 Million in Sales Expected for Reliant Bancorp Inc (NASDAQ:RBNC) This Quarter

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Wall Street analysts expect that Reliant Bancorp Inc (NASDAQ:RBNC) will announce $16.78 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Reliant Bancorp’s earnings. The highest sales estimate is $17.34 million and the lowest is $16.21 million. Reliant Bancorp reported sales of $15.02 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.7%. The firm is scheduled to report its next quarterly earnings report on Wednesday, January 22nd.

On average, analysts expect that Reliant Bancorp will report full-year sales of $63.72 million for the current fiscal year, with estimates ranging from $61.67 million to $65.77 million. For the next financial year, analysts forecast that the business will post sales of $102.85 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Reliant Bancorp.

Reliant Bancorp (NASDAQ:RBNC) last released its earnings results on Wednesday, October 23rd. The bank reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). The company had revenue of $16.82 million for the quarter, compared to analysts’ expectations of $17.35 million. Reliant Bancorp had a net margin of 18.77% and a return on equity of 7.62%.

RBNC has been the topic of several analyst reports. Stephens initiated coverage on Reliant Bancorp in a research report on Friday, August 23rd. They set an “equal weight” rating and a $24.00 target price on the stock. Zacks Investment Research upgraded Reliant Bancorp from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Saturday, November 9th. Finally, Keefe, Bruyette & Woods upgraded Reliant Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $25.00 to $26.00 in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $25.50.

Several institutional investors have recently made changes to their positions in the company. Penn Capital Management Co. Inc. lifted its position in shares of Reliant Bancorp by 1.0% in the second quarter. Penn Capital Management Co. Inc. now owns 47,352 shares of the bank’s stock valued at $1,119,000 after acquiring an additional 446 shares in the last quarter. Morgan Stanley lifted its position in shares of Reliant Bancorp by 37.5% in the second quarter. Morgan Stanley now owns 2,417 shares of the bank’s stock valued at $56,000 after acquiring an additional 659 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Reliant Bancorp by 4.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 23,939 shares of the bank’s stock valued at $566,000 after acquiring an additional 1,101 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Reliant Bancorp by 8.3% in the third quarter. Rhumbline Advisers now owns 15,489 shares of the bank’s stock valued at $371,000 after acquiring an additional 1,185 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Reliant Bancorp by 0.8% in the third quarter. State Street Corp now owns 172,102 shares of the bank’s stock valued at $4,127,000 after acquiring an additional 1,420 shares in the last quarter. Institutional investors and hedge funds own 29.14% of the company’s stock.

NASDAQ RBNC traded up $0.30 on Tuesday, hitting $21.90. 31,650 shares of the company traded hands, compared to its average volume of 9,639. The company has a market capitalization of $241.82 million, a price-to-earnings ratio of 15.00 and a beta of 0.38. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $22.53 and its 200-day moving average price is $22.87. Reliant Bancorp has a 52-week low of $19.03 and a 52-week high of $25.00.

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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Earnings History and Estimates for Reliant Bancorp (NASDAQ:RBNC)

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