NasdaqCM:RBNC

Stock Analysis Report

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Executive Summary

Reliant Bancorp, Inc. operates as a financial 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. More Details


Snowflake Analysis

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has Reliant Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: RBNC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.9%

RBNC

1.2%

US Banks

-1.3%

US Market


1 Year Return

-30.9%

RBNC

-28.5%

US Banks

18.5%

US Market

Return vs Industry: RBNC underperformed the US Banks industry which returned -28.5% over the past year.

Return vs Market: RBNC underperformed the US Market which returned 18.5% over the past year.


Shareholder returns

RBNCIndustryMarket
7 Day0.9%1.2%-1.3%
30 Day13.3%3.5%5.3%
90 Day1.5%-0.05%7.5%
1 Year-29.6%-30.9%-25.9%-28.5%21.3%18.5%
3 Year-32.9%-36.0%-18.6%-25.4%42.4%32.9%
5 Year25.2%17.3%16.1%1.6%84.2%63.5%

Price Volatility Vs. Market

How volatile is Reliant Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Reliant Bancorp undervalued compared to its fair value and its price relative to the market?

10.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RBNC ($15.84) is trading below our estimate of fair value ($17.71)

Significantly Below Fair Value: RBNC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: RBNC is poor value based on its PE Ratio (12.7x) compared to the US Banks industry average (10x).

PE vs Market: RBNC is good value based on its PE Ratio (12.7x) compared to the US market (19x).


Price to Earnings Growth Ratio

PEG Ratio: RBNC is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: RBNC's PB Ratio (0.9x) is in line with the US Banks industry average.


Next Steps

Future Growth

How is Reliant Bancorp forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

24.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RBNC's forecast earnings growth (24.2% per year) is above the savings rate (2.2%).

Earnings vs Market: RBNC's earnings (24.2% per year) are forecast to grow faster than the US market (22.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: RBNC's revenue (9.1% per year) is forecast to grow slower than the US market (10.1% per year).

High Growth Revenue: RBNC's revenue (9.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: RBNC's Return on Equity is forecast to be low in 3 years time (9%).


Next Steps

Past Performance

How has Reliant Bancorp performed over the past 5 years?

22.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RBNC has a high level of non-cash earnings.

Growing Profit Margin: RBNC's current net profit margins (18.9%) are lower than last year (26%).


Past Earnings Growth Analysis

Earnings Trend: RBNC's earnings have grown significantly by 22.3% per year over the past 5 years.

Accelerating Growth: RBNC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: RBNC had negative earnings growth (-3%) over the past year, making it difficult to compare to the Banks industry average (-3%).


Return on Equity

High ROE: RBNC's Return on Equity (4%) is considered low.


Next Steps

Financial Health

How is Reliant Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: RBNC's Assets to Equity ratio (10.1x) is moderate.

Allowance for Bad Loans: RBNC has a sufficient allowance for bad loans (165%).

Low Risk Liabilities: 94% of RBNC's liabilities are made up of primarily low risk sources of funding.

Loan Level: RBNC has an appropriate level of Loans to Assets ratio (77%).

Low Risk Deposits: RBNC's Loans to Deposits ratio (91%) is appropriate.

Level of Bad Loans: RBNC has an appropriate level of bad loans (0.5%).


Next Steps

Dividend

What is Reliant Bancorp current dividend yield, its reliability and sustainability?

2.53%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: RBNC's dividend (2.53%) is higher than the bottom 25% of dividend payers in the US market (1.64%).

High Dividend: RBNC's dividend (2.53%) is low compared to the top 25% of dividend payers in the US market (4.68%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, RBNC has been paying a dividend for less than 10 years.

Growing Dividend: RBNC's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.3%), RBNC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: RBNC's dividends in 3 years are forecast to be well covered by earnings (22.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.4yrs

Average management tenure


CEO

DeVan Ard (65 yo)

3.33yrs

Tenure

US$784,869

Compensation

Mr. DeVan D. Ard, Jr. has been the Chairman of the Board and Chief Executive Officer of Reliant Bancorp, Inc. (formerly Commerce Union Bancshares, Inc.) since June 30, 2017 and served as its President sinc ...


CEO Compensation Analysis

Compensation vs Market: DeVan's total compensation ($USD784.87K) is below average for companies of similar size in the US market ($USD1.27M).

Compensation vs Earnings: DeVan's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
DeVan Ard
Chairman & CEO3.33yrsUS$784.87k0.48%
$ 1.2m
John Wilson
President0.33yrUS$518.97k0.15%
$ 393.0k
Gerald Cooksey
Chief Financial Officer0.42yrno data0.33%
$ 856.4k
Mark Seaton
Senior VP0.083yrno datano data
Mindy Logan
Senior VP & Human Resources Directorno datano datano data
Berlin Bagwell
Executive VP & Robertson County Market Presidentno dataUS$212.72kno data
Wallace Gammon
Director of Operations & Executive VPno datano datano data
Kim York
Chief strategy Officer & Executive VPno datano data0.043%
$ 110.9k
Jim Bratton
Senior VP & Maury/Hickman County Market Presidentno datano datano data
Richard Polka
Senior VP & Sumner County Market Presidentno datano datano data
Terry Todd
Executive VP & Chattanooga Market Presidentno dataUS$518.90kno data
Debbie Meredith
Senior Vice Presidentno datano datano data

0.4yrs

Average Tenure

61.5yo

Average Age

Experienced Management: RBNC's management team is not considered experienced ( 0.4 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
DeVan Ard
Chairman & CEO3.33yrsUS$784.87k0.48%
$ 1.2m
Linda Rebrovick
Independent Director1.42yrsUS$31.65k0.0077%
$ 19.8k
Michael Wallace
Independent Director0.50yrno data0.50%
$ 1.3m
Homayoun Aminmadani
Independent Director5.5yrsUS$51.75k1.74%
$ 4.5m
Darrell Freeman
Independent Director5.5yrsUS$56.15k0.48%
$ 1.2m
Sharon Edwards
Lead Independent Director5.42yrsUS$68.65k0.093%
$ 240.0k
Connie McGee
Independent Director1.42yrsUS$31.65k0.0080%
$ 20.5k
Robert Daniel
Independent Director2.75yrsUS$56.65k1.1%
$ 2.8m
Ruskin Vest
Independent Director2.75yrsUS$50.15k0.84%
$ 2.2m
William DeBerry
Director14.75yrsUS$48.75k0.68%
$ 1.8m
Charles Beasley
Independent Director14.75yrsUS$56.65k0.13%
$ 339.1k
James Hodges
Independent Director12.75yrsUS$47.15k0.043%
$ 110.8k

4.4yrs

Average Tenure

64.5yo

Average Age

Experienced Board: RBNC's board of directors are considered experienced (4.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: RBNC insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 45.1%.


Top Shareholders

Company Information

Reliant Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Reliant Bancorp, Inc.
  • Ticker: RBNC
  • Exchange: NasdaqCM
  • Founded: 2006
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$257.314m
  • Shares outstanding: 16.24m
  • Website: https://www.reliantbank.com

Number of Employees


Location

  • Reliant Bancorp, Inc.
  • 1736 Carothers Parkway
  • Suite 100
  • Brentwood
  • Tennessee
  • 37027
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RBNCNasdaqCM (Nasdaq Capital Market)YesCommon SharesUSUSDApr 2015

Biography

Reliant Bancorp, Inc. operates as a financial holding company for Reliant Bank that provides a range of commercial banking services for businesses and individuals in the Middle Tennessee region and the Nas ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/22 00:41
End of Day Share Price2020/10/21 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.