Renasant Corp. (RNST) to Post FY2018 Earnings of $2.94 Per Share, FIG Partners Forecasts

Renasant Corp. (NASDAQ:RNST) – FIG Partners increased their FY2018 EPS estimates for shares of Renasant in a report issued on Wednesday. FIG Partners analyst J. Rodis now anticipates that the financial services provider will earn $2.94 per share for the year, up from their previous forecast of $2.60.

Several other analysts have also issued reports on RNST. ValuEngine upgraded Renasant from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Zacks Investment Research upgraded Renasant from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Wednesday, September 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $43.00 target price on shares of Renasant in a research note on Friday, September 29th. Finally, BidaskClub downgraded Renasant from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $44.67.

Renasant (NASDAQ RNST) traded down $0.70 during trading hours on Monday, reaching $40.89. The company’s stock had a trading volume of 98,200 shares, compared to its average volume of 188,369. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2,016.70, a price-to-earnings ratio of 18.67 and a beta of 1.01. Renasant has a 12-month low of $37.68 and a 12-month high of $45.31.

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

Several institutional investors and hedge funds have recently modified their holdings of RNST. Vanguard Group Inc. boosted its stake in Renasant by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,505,554 shares of the financial services provider’s stock valued at $153,333,000 after purchasing an additional 95,523 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Renasant by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,017,641 shares of the financial services provider’s stock valued at $129,456,000 after purchasing an additional 82,379 shares during the last quarter. BlackRock Inc. boosted its stake in Renasant by 0.7% during the 2nd quarter. BlackRock Inc. now owns 2,820,549 shares of the financial services provider’s stock valued at $123,371,000 after purchasing an additional 18,829 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Renasant by 36.5% during the 3rd quarter. Wells Fargo & Company MN now owns 1,423,017 shares of the financial services provider’s stock valued at $61,048,000 after purchasing an additional 380,801 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in Renasant by 2.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,273,099 shares of the financial services provider’s stock valued at $54,616,000 after purchasing an additional 27,222 shares during the last quarter. Institutional investors own 64.66% of the company’s stock.

In other news, EVP Stuart Johnson sold 2,689 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $41.29, for a total value of $111,028.81. Following the completion of the sale, the executive vice president now directly owns 54,170 shares in the company, valued at approximately $2,236,679.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael D. Shmerling bought 1,000 shares of Renasant stock in a transaction dated Friday, November 10th. The stock was purchased at an average price of $39.40 per share, with a total value of $39,400.00. Following the completion of the purchase, the director now owns 157,347 shares in the company, valued at $6,199,471.80. The disclosure for this purchase can be found here. Over the last three months, insiders sold 32,729 shares of company stock valued at $1,356,863. Corporate insiders own 3.86% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a $0.19 dividend. The ex-dividend date is Thursday, December 14th. This is a positive change from Renasant’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.86%. Renasant’s dividend payout ratio (DPR) is 34.70%.

ILLEGAL ACTIVITY WARNING: “Renasant Corp. (RNST) to Post FY2018 Earnings of $2.94 Per Share, FIG Partners Forecasts” was published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.com-unik.info/2018/01/01/renasant-corp-rnst-to-post-fy2018-earnings-of-2-94-per-share-fig-partners-forecasts.html.

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.

What are top analysts saying about Renasant? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Renasant and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit