Renasant Co. (NASDAQ:RNST) Given Average Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Shares of Renasant Co. (NASDAQ:RNST – Get Free Report) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $41.00.

Several research firms have issued reports on RNST. Keefe, Bruyette & Woods lowered their price target on shares of Renasant from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Raymond James Financial raised shares of Renasant from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Thursday, April 24th. Finally, Hovde Group upped their price target on shares of Renasant from $34.50 to $35.00 and gave the company a “market perform” rating in a research report on Monday, April 28th.

Check Out Our Latest Report on RNST

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RNST. Strs Ohio acquired a new stake in Renasant in the first quarter worth $614,000. Intech Investment Management LLC boosted its position in shares of Renasant by 40.3% during the 1st quarter. Intech Investment Management LLC now owns 41,959 shares of the financial services provider’s stock worth $1,424,000 after purchasing an additional 12,062 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Renasant in the 1st quarter valued at about $390,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Renasant by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,105 shares of the financial services provider’s stock valued at $6,416,000 after buying an additional 23,072 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in Renasant by 52.5% during the 1st quarter. Empowered Funds LLC now owns 306,262 shares of the financial services provider’s stock worth $10,391,000 after buying an additional 105,438 shares during the period. Institutional investors and hedge funds own 77.31% of the company’s stock.

Renasant Stock Up 0.7%

Shares of RNST opened at $38.14 on Friday. The stock’s 50-day moving average price is $34.96 and its two-hundred day moving average price is $34.79. Renasant has a 12 month low of $26.97 and a 12 month high of $39.63. The company has a market capitalization of $3.62 billion, a PE ratio of 11.66 and a beta of 0.91. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

Renasant (NASDAQ:RNST – Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. Renasant had a return on equity of 6.58% and a net margin of 17.91%. The company had revenue of $170.59 million during the quarter, compared to the consensus estimate of $170.38 million. During the same period last year, the company earned $0.65 earnings per share. On average, analysts anticipate that Renasant will post 2.68 EPS for the current year.

Renasant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Monday, June 16th. Renasant’s dividend payout ratio (DPR) is 27.33%.

Renasant Company Profile

(Get Free Report

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.

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