Reliant Bancorp (RBNC) Reaches New 12-Month High at $27.99

Reliant Bancorp Inc (NASDAQ:RBNC)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $27.99 and last traded at $28.67, with a volume of 709 shares changing hands. The stock had previously closed at $27.55.

The stock has a market cap of $316.76 million, a PE ratio of 24.63 and a beta of 0.37. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.06.

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Reliant Bancorp (NASDAQ:RBNC) last issued its quarterly earnings results on Thursday, April 26th. The bank reported $0.33 earnings per share (EPS) for the quarter. The firm had revenue of $16.37 million for the quarter. Reliant Bancorp had a return on equity of 7.04% and a net margin of 16.11%.

In other Reliant Bancorp news, Director Charles Trimble Beasley sold 7,000 shares of Reliant Bancorp stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $25.80, for a total value of $180,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William Ronald Deberry sold 3,000 shares of Reliant Bancorp stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $24.42, for a total value of $73,260.00. The disclosure for this sale can be found here. Insiders sold a total of 11,413 shares of company stock worth $289,349 in the last 90 days. 13.09% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in RBNC. Banc Funds Co. LLC purchased a new stake in Reliant Bancorp in the 4th quarter valued at approximately $8,769,000. Wells Fargo & Company MN purchased a new stake in Reliant Bancorp in the 1st quarter valued at approximately $465,000. Trustcore Financial Services LLC purchased a new stake in Reliant Bancorp in the 1st quarter valued at approximately $431,000. Warren Averett Asset Management LLC purchased a new stake in Reliant Bancorp in the 1st quarter valued at approximately $2,129,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Reliant Bancorp in the 1st quarter valued at approximately $267,000. 24.42% of the stock is currently owned by institutional investors.

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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