Renasant (NASDAQ:RNST) Releases Earnings Results

Renasant (NASDAQ:RNST) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01, Briefing.com reports. Renasant had a return on equity of 8.09% and a net margin of 24.13%. The company had revenue of $146.77 million during the quarter, compared to analysts’ expectations of $147.15 million. During the same period in the prior year, the company earned $0.76 EPS.

Shares of Renasant stock opened at $34.80 on Friday. Renasant has a one year low of $31.46 and a one year high of $39.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.92. The stock’s 50-day moving average is $35.61 and its 200 day moving average is $34.83. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 12.08 and a beta of 1.21.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 18th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Tuesday, December 17th. Renasant’s dividend payout ratio is 30.24%.

In related news, EVP James W. Gray sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $34.57, for a total transaction of $86,425.00. Following the completion of the sale, the executive vice president now owns 55,472 shares of the company’s stock, valued at $1,917,667.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.64% of the company’s stock.

A number of research firms have commented on RNST. BidaskClub lowered Renasant from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 31st. Zacks Investment Research cut Renasant from a “buy” rating to a “hold” rating in a report on Friday, January 10th. Sandler O’Neill downgraded shares of Renasant from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. ValuEngine upgraded shares of Renasant from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Stephens boosted their price target on shares of Renasant from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Renasant has an average rating of “Hold” and a consensus target price of $37.80.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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Earnings History for Renasant (NASDAQ:RNST)

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