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

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. “

Other research analysts have also issued reports about the stock. BidaskClub raised shares of Reliant Bancorp from a sell rating to a hold rating in a research note on Wednesday, June 17th. Raymond James started coverage on shares of Reliant Bancorp in a research note on Tuesday, June 9th. They issued a market perform rating on the stock. Janney Montgomery Scott raised shares of Reliant Bancorp from a neutral rating to a buy rating and set a $18.00 price objective on the stock in a research note on Thursday, April 30th. ValuEngine downgraded shares of Reliant Bancorp from a hold rating to a sell rating in a report on Thursday, April 2nd. Finally, TheStreet downgraded shares of Reliant Bancorp from a b- rating to a c+ rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Reliant Bancorp has an average rating of Hold and a consensus price target of $22.50.

Shares of NASDAQ RBNC opened at $15.19 on Wednesday. The firm has a market cap of $252.43 million, a PE ratio of 10.26 and a beta of 1.15. Reliant Bancorp has a 12-month low of $9.45 and a 12-month high of $25.00. The company’s fifty day simple moving average is $14.61 and its 200 day simple moving average is $16.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.30.

Reliant Bancorp (NASDAQ:RBNC) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). Reliant Bancorp had a net margin of 12.54% and a return on equity of 7.49%. The business had revenue of $20.40 million during the quarter, compared to the consensus estimate of $19.69 million. On average, equities analysts predict that Reliant Bancorp will post 1.31 earnings per share for the current year.

In related news, Director William Lawson Mabry acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average price of $14.56 per share, for a total transaction of $43,680.00. Insiders have purchased 7,000 shares of company stock valued at $94,516 in the last 90 days. 12.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of RBNC. Tower Research Capital LLC TRC increased its holdings in Reliant Bancorp by 75,575.0% during the first quarter. Tower Research Capital LLC TRC now owns 3,027 shares of the bank’s stock worth $34,000 after buying an additional 3,023 shares during the last quarter. Citigroup Inc. increased its holdings in Reliant Bancorp by 33.6% during the first quarter. Citigroup Inc. now owns 3,911 shares of the bank’s stock worth $44,000 after buying an additional 983 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in Reliant Bancorp during the first quarter worth about $81,000. JPMorgan Chase & Co. boosted its position in Reliant Bancorp by 12.3% during the first quarter. JPMorgan Chase & Co. now owns 11,383 shares of the bank’s stock worth $128,000 after purchasing an additional 1,245 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Reliant Bancorp by 9.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,091 shares of the bank’s stock worth $136,000 after purchasing an additional 1,005 shares during the period. Institutional investors and hedge funds own 19.93% 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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