Shares of Renasant Corporation (NASDAQ:RNST) have been given an average recommendation of “Hold” by the five analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $43.50.
A number of analysts recently weighed in on RNST shares. Jefferies Group LLC restated a “hold” rating and set a $44.00 target price on shares of Renasant Corporation in a report on Friday, July 14th. BidaskClub lowered shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. ValuEngine raised shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Renasant Corporation in a research note on Friday, September 29th.
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Shares of Renasant Corporation (RNST) traded down $0.15 during midday trading on Wednesday, reaching $41.57. The company’s stock had a trading volume of 20,328 shares, compared to its average volume of 155,470. Renasant Corporation has a 1-year low of $32.51 and a 1-year high of $45.31. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The company has a market cap of $2,057.64, a price-to-earnings ratio of 17.60 and a beta of 1.00.
Renasant Corporation (NASDAQ:RNST) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.08). The business had revenue of $123.43 million for the quarter, compared to the consensus estimate of $127.07 million. Renasant Corporation had a return on equity of 8.57% and a net margin of 20.44%. During the same quarter in the previous year, the business posted $0.59 earnings per share. equities research analysts anticipate that Renasant Corporation will post 2.33 earnings per share for the current year.
In other news, Director J Niles Mcneel sold 10,000 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $42.39, for a total transaction of $423,900.00. Following the transaction, the director now owns 29,921 shares in the company, valued at approximately $1,268,351.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fred F. Sharpe purchased 2,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $39.55 per share, for a total transaction of $79,100.00. The disclosure for this purchase can be found here. Insiders have bought a total of 3,023 shares of company stock worth $121,521 in the last 90 days. 3.86% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in RNST. BlackRock Inc. raised its holdings in shares of Renasant Corporation by 28,180.2% during the 1st quarter. BlackRock Inc. now owns 2,801,720 shares of the financial services provider’s stock valued at $111,200,000 after purchasing an additional 2,791,813 shares in the last quarter. Vanguard Group Inc. raised its holdings in Renasant Corporation by 44.4% in the 1st quarter. Vanguard Group Inc. now owns 3,410,031 shares of the financial services provider’s stock worth $135,344,000 after acquiring an additional 1,048,279 shares during the period. Westwood Holdings Group Inc. bought a new position in Renasant Corporation in the 2nd quarter worth $43,071,000. State Street Corp raised its holdings in Renasant Corporation by 26.8% in the 1st quarter. State Street Corp now owns 1,171,052 shares of the financial services provider’s stock worth $46,483,000 after acquiring an additional 247,806 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Renasant Corporation by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,935,262 shares of the financial services provider’s stock worth $128,390,000 after acquiring an additional 106,531 shares during the period. Institutional investors and hedge funds own 61.93% of the company’s stock.
Renasant Corporation Company Profile
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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