Renasant Corporation (RNST) Expected to Announce Earnings of $0.61 Per Share

Equities research analysts expect Renasant Corporation (NASDAQ:RNST) to post earnings per share of $0.61 for the current quarter, Zacks reports. Two analysts have made estimates for Renasant’s earnings. The lowest EPS estimate is $0.60 and the highest is $0.61. Renasant reported earnings per share of $0.59 in the same quarter last year, which suggests a positive year-over-year growth rate of 3.4%. The company is expected to announce its next quarterly earnings report on Tuesday, January 16th.

According to Zacks, analysts expect that Renasant will report full-year earnings of $2.30 per share for the current year, with EPS estimates ranging from $2.24 to $2.42. For the next year, analysts forecast that the business will report earnings of $2.73 per share, with EPS estimates ranging from $2.60 to $2.99. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Renasant.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.08). The firm had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $127.07 million. Renasant had a net margin of 20.44% and a return on equity of 8.15%. During the same period in the prior year, the business posted $0.59 EPS.

Several equities analysts have commented on the company. Zacks Investment Research raised Renasant from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. ValuEngine raised Renasant from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $43.00 price objective on shares of Renasant in a research report on Friday, September 29th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

In other news, Director J Niles Mcneel sold 10,000 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $42.39, for a total transaction of $423,900.00. Following the completion of the transaction, the director now directly owns 29,921 shares in the company, valued at $1,268,351.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael D. Shmerling purchased 1,000 shares of Renasant stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $39.40 per share, with a total value of $39,400.00. Following the completion of the acquisition, the director now directly owns 157,347 shares of the company’s stock, valued at $6,199,471.80. The disclosure for this purchase can be found here. Insiders have sold 25,729 shares of company stock valued at $1,067,623 over the last 90 days. Corporate insiders own 3.86% of the company’s stock.

Large investors have recently modified their holdings of the company. Advisor Group Inc. increased its holdings in shares of Renasant by 13.3% during the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 371 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Renasant by 7.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after buying an additional 264 shares in the last quarter. Highwater Wealth Management LLC bought a new stake in Renasant in the 3rd quarter worth about $213,000. Jane Street Group LLC bought a new stake in Renasant in the 3rd quarter worth about $217,000. Finally, Aperio Group LLC bought a new stake in Renasant in the 2nd quarter worth about $229,000. Hedge funds and other institutional investors own 65.33% of the company’s stock.

Renasant (RNST) opened at $43.03 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2,130.00, a price-to-earnings ratio of 17.97 and a beta of 1.00. Renasant has a 52-week low of $37.68 and a 52-week high of $45.31.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.76 annualized dividend and a yield of 1.77%. This is a positive change from Renasant’s previous quarterly dividend of $0.18. Renasant’s dividend payout ratio (DPR) is currently 32.88%.

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About Renasant

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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Earnings History and Estimates for Renasant (NASDAQ:RNST)

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