Renasant Corp. (RNST) Forecasted to Earn Q1 2018 Earnings of $0.67 Per Share

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.

Shares of Renasant (NASDAQ:RNST) opened at $44.04 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. Renasant has a 1-year low of $37.68 and a 1-year high of $45.31. The firm has a market capitalization of $2,200.00, a PE ratio of 22.24 and a beta of 1.01.

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%.

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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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