Reliant Bancorp (NASDAQ:RBNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

A number of other research analysts have also recently issued reports on the company. FIG Partners reaffirmed a “market-perform” rating on shares of Reliant Bancorp in a report on Tuesday, July 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $27.00 price target on shares of Reliant Bancorp in a report on Friday, July 27th.

Reliant Bancorp stock opened at $25.83 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.81. Reliant Bancorp has a 12-month low of $21.90 and a 12-month high of $30.00. The stock has a market capitalization of $297.40 million, a P/E ratio of 24.60 and a beta of 0.30.

Reliant Bancorp (NASDAQ:RBNC) last released its quarterly earnings results on Wednesday, July 25th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Reliant Bancorp had a return on equity of 7.13% and a net margin of 13.97%. The business had revenue of $15.66 million during the quarter, compared to analysts’ expectations of $16.94 million. sell-side analysts predict that Reliant Bancorp will post 1.4 EPS for the current fiscal year.

In related news, CFO James Daniel Dellinger sold 2,500 shares of Reliant Bancorp stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $27.93, for a total value of $69,825.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 5,800 shares of company stock valued at $161,225. Corporate insiders own 13.09% of the company’s stock.

A number of hedge funds have recently made changes to their positions in RBNC. American International Group Inc. acquired a new stake in Reliant Bancorp in the first quarter worth about $101,000. Acadian Asset Management LLC acquired a new stake in Reliant Bancorp in the second quarter worth about $124,000. New York State Common Retirement Fund acquired a new stake in Reliant Bancorp in the first quarter worth about $169,000. Hartford Investment Management Co. acquired a new stake in Reliant Bancorp in the second quarter worth about $235,000. Finally, California State Teachers Retirement System acquired a new stake in Reliant Bancorp in the first quarter worth about $241,000. Hedge funds and other institutional investors own 28.35% 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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