Renasant Corp. (NASDAQ:RNST) – Research analysts at FIG Partners issued their Q1 2018 earnings per share estimates for shares of Renasant in a research report issued to clients and investors on Wednesday. FIG Partners analyst J. Rodis expects that the financial services provider will post earnings per share of $0.67 for the quarter. FIG Partners also issued estimates for Renasant’s Q2 2018 earnings at $0.73 EPS, Q3 2018 earnings at $0.76 EPS and Q4 2018 earnings at $0.77 EPS.
Several other equities research analysts also recently weighed in on RNST. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price target on shares of Renasant in a report on Friday, September 29th. Zacks Investment Research downgraded Renasant from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. ValuEngine downgraded Renasant from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BidaskClub downgraded Renasant from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $45.00 price objective on shares of Renasant in a report on Thursday, January 4th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Renasant currently has a consensus rating of “Hold” and a consensus target price of $45.60.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its position in shares of Renasant by 1.2% in the 2nd quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 65 shares during the period. Legal & General Group Plc boosted its position in shares of Renasant by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 16,021 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 178 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Renasant by 7.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 264 shares during the period. Advisor Group Inc. boosted its position in shares of Renasant by 13.3% in the 2nd quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 371 shares during the period. Finally, Citadel Advisors LLC boosted its position in shares of Renasant by 6.2% in the 2nd quarter. Citadel Advisors LLC now owns 29,662 shares of the financial services provider’s stock valued at $1,297,000 after purchasing an additional 1,742 shares during the period. Institutional investors and hedge funds own 65.33% of the company’s stock.
In other Renasant news, Director Fred F. Sharpe acquired 2,000 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were acquired at an average price of $43.80 per share, for a total transaction of $87,600.00. Following the acquisition, the director now owns 11,666 shares in the company, valued at approximately $510,970.80. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Stuart Johnson sold 2,689 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $41.29, for a total value of $111,028.81. Following the completion of the transaction, the executive vice president now owns 54,170 shares in the company, valued at approximately $2,236,679.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,729 shares of company stock worth $1,356,863. Company insiders own 3.86% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Renasant’s previous quarterly dividend of $0.18. Renasant’s dividend payout ratio is presently 38.38%.
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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