Renasant Co. (NASDAQ:RNST) Receives Average Recommendation of “Hold” from Brokerages

Renasant Co. (NASDAQ:RNST) has been given an average rating of “Hold” by the four ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $33.00.

Several equities research analysts recently weighed in on the company. Stephens raised their price objective on Renasant from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Truist Financial cut their price objective on Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, April 1st. StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Finally, Keefe, Bruyette & Woods raised their price objective on Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a report on Tuesday, January 30th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RNST. BNP Paribas Financial Markets boosted its position in shares of Renasant by 74.7% during the 1st quarter. BNP Paribas Financial Markets now owns 41,701 shares of the financial services provider’s stock valued at $1,306,000 after purchasing an additional 17,836 shares in the last quarter. Duncan Williams Asset Management LLC bought a new stake in shares of Renasant during the 1st quarter valued at about $290,000. Vanguard Group Inc. boosted its position in shares of Renasant by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider’s stock valued at $216,121,000 after purchasing an additional 16,417 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Renasant by 4.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 830,687 shares of the financial services provider’s stock valued at $27,978,000 after purchasing an additional 38,036 shares in the last quarter. Finally, Mendon Capital Advisors Corp bought a new stake in shares of Renasant during the 4th quarter valued at about $1,684,000. 77.31% of the stock is owned by institutional investors and hedge funds.

Renasant Trading Down 0.0 %

Shares of RNST opened at $30.09 on Tuesday. Renasant has a 52-week low of $22.99 and a 52-week high of $34.85. The business’s fifty day moving average is $30.08 and its 200-day moving average is $30.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 12.23 and a beta of 1.04.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. Renasant had a return on equity of 7.44% and a net margin of 14.67%. The company had revenue of $254.56 million for the quarter, compared to analyst estimates of $159.60 million. During the same quarter last year, the company posted $0.82 EPS. Equities analysts anticipate that Renasant will post 2.62 EPS for the current fiscal year.

Renasant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, June 14th. Renasant’s payout ratio is presently 35.77%.

About Renasant

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. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.