Brokerages Set Renasant Corp. (RNST) Target Price at $41.67

Shares of Renasant Corp. (NASDAQ:RNST) have been assigned a consensus rating of “Hold” from the six research firms that are currently covering the stock, reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $41.67.

A number of brokerages have recently issued reports on RNST. BidaskClub cut shares of Renasant Corp. from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research cut shares of Renasant Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a “hold” rating and issued a $44.00 target price on shares of Renasant Corp. in a research report on Friday, July 14th. ValuEngine raised shares of Renasant Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $43.00 target price on shares of Renasant Corp. and gave the company a “hold” rating in a research report on Saturday, May 27th.

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In other Renasant Corp. news, CEO Edward Robinson Mcgraw sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $43.00, for a total transaction of $215,000.00. Following the completion of the transaction, the chief executive officer now owns 229,789 shares of the company’s stock, valued at $9,880,927. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Shmerling bought 1,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were acquired at an average cost of $41.50 per share, with a total value of $41,500.00. Following the purchase, the director now owns 156,347 shares of the company’s stock, valued at approximately $6,488,400.50. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 7,000 shares of company stock valued at $295,600 and sold 33,000 shares valued at $1,389,600. 3.86% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in shares of Renasant Corp. during the first quarter valued at approximately $140,000. New York State Teachers Retirement System purchased a new stake in Renasant Corp. during the fourth quarter valued at $152,000. Trust Co. of Toledo NA OH purchased a new stake in Renasant Corp. during the second quarter valued at $214,000. Aperio Group LLC purchased a new stake in Renasant Corp. during the second quarter valued at $229,000. Finally, Amalgamated Bank boosted its stake in Renasant Corp. by 4.2% in the first quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 214 shares during the period. 66.65% of the stock is owned by hedge funds and other institutional investors.

Renasant Corp. (NASDAQ RNST) opened at 40.10 on Monday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 18.09 and a beta of 1.04. Renasant Corp. has a 12-month low of $32.51 and a 12-month high of $45.32. The stock has a 50 day moving average of $42.73 and a 200 day moving average of $41.52.

Renasant Corp. (NASDAQ:RNST) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.04. The company had revenue of $113.87 million during the quarter, compared to analysts’ expectations of $112.43 million. Renasant Corp. had a net margin of 22.20% and a return on equity of 8.04%. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities research analysts anticipate that Renasant Corp. will post $2.34 earnings per share for the current year.

About Renasant Corp.

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

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