Renasant (NASDAQ:RNST – Get Rating) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01, Briefing.com reports. Renasant had a net margin of 24.05% and a return on equity of 7.38%. The firm had revenue of $198.46 million for the quarter, compared to the consensus estimate of $172.70 million. During the same period in the previous year, the firm posted $0.68 earnings per share.
Renasant Stock Down 4.3 %
RNST stock traded down $1.54 during trading hours on Wednesday, hitting $34.63. The company’s stock had a trading volume of 10,236 shares, compared to its average volume of 190,048. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.94 billion, a PE ratio of 12.56 and a beta of 1.15. Renasant has a 12 month low of $27.61 and a 12 month high of $41.77. The stock has a 50 day moving average price of $38.35 and a two-hundred day moving average price of $35.60.
Renasant Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Friday, December 16th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, December 15th. Renasant’s dividend payout ratio is 31.43%.
Institutional Trading of Renasant
Analyst Upgrades and Downgrades
RNST has been the topic of a number of research analyst reports. Stephens boosted their price objective on shares of Renasant from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, October 28th. StockNews.com initiated coverage on shares of Renasant in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Raymond James raised shares of Renasant from a “market perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research report on Thursday, October 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.25.
Renasant Company Profile
Renasant Corporation operates as a bank holding company for Renasant Bank that 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 accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities.
- Get a free copy of the StockNews.com research report on Renasant (RNST)
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