Renasant Co. (NASDAQ:RNST) Receives Average Rating of “Hold” from Analysts

Renasant Co. (NASDAQ:RNST) has received an average recommendation of “Hold” from the four brokerages that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $33.00.

RNST has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. StockNews.com upgraded Renasant from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Truist Financial decreased their price target on Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Finally, Stephens boosted their price target on Renasant from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th.

Renasant Price Performance

Shares of RNST stock opened at $30.09 on Tuesday. The company has a market capitalization of $1.69 billion, a P/E ratio of 12.23 and a beta of 1.04. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. Renasant has a 12 month low of $22.99 and a 12 month high of $34.85. The stock has a 50 day moving average of $30.08 and a two-hundred day moving average of $30.07.

Renasant (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $254.56 million for the quarter, compared to analysts’ expectations of $159.60 million. Renasant had a return on equity of 7.44% and a net margin of 14.67%. During the same period in the previous year, the business posted $0.82 earnings per share. As a group, equities analysts expect that Renasant will post 2.62 EPS for the current year.

Renasant Dividend Announcement

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

Institutional Trading of Renasant

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Renasant by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider’s stock worth $216,121,000 after purchasing an additional 16,417 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Renasant by 89.4% in the third quarter. Victory Capital Management Inc. now owns 4,535,641 shares of the financial services provider’s stock worth $118,788,000 after purchasing an additional 2,140,613 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Renasant by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,913,033 shares of the financial services provider’s stock worth $131,793,000 after purchasing an additional 34,897 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Renasant by 4.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 830,687 shares of the financial services provider’s stock worth $27,978,000 after purchasing an additional 38,036 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Renasant by 7.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,441 shares of the financial services provider’s stock worth $25,443,000 after purchasing an additional 50,084 shares in the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

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. 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.