Reliant Bancorp beats earnings, revenue estimates

Over the last four quarters, the company has surpassed consensus EPS estimates four times

Reliant Bancorp came out with quarterly earnings of $0.87 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 26.09%. A quarter ago, it was expected that this bank holding company would post earnings of $0.71 per share when it actually produced earnings of $0.78, delivering a surprise of 9.86%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Reliant Bancorp, which belongs to the Zacks Banks – Southeast industry, posted revenues of $39.87 million for the quarter ended September 2021, surpassing the Zacks Consensus Estimate by 14.93%. This compares to year-ago revenues of $36.54 million.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Reliant Bancorp shares have added nearly 76.4% since the beginning of the year versus the S&P 500’s gain of 19.5%.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Reliant Bancorp was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.