Renasant (RNST) Getting Somewhat Positive News Coverage, Analysis Finds

News headlines about Renasant (NASDAQ:RNST) have trended somewhat positive this week, Accern reports. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Renasant earned a coverage optimism score of 0.10 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 45.7462530122397 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

NASDAQ:RNST opened at $47.82 on Wednesday. The firm has a market capitalization of $2.38 billion, a P/E ratio of 19.76 and a beta of 1.00. Renasant has a twelve month low of $37.68 and a twelve month high of $49.78. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.

Renasant (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $124.76 million for the quarter, compared to analysts’ expectations of $124.21 million. Renasant had a net margin of 19.29% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. analysts predict that Renasant will post 3.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 30th. Investors of record on Saturday, June 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.80 annualized dividend and a yield of 1.67%. This is a boost from Renasant’s previous quarterly dividend of $0.19. Renasant’s payout ratio is 31.40%.

Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Renasant from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Thursday, April 5th. BidaskClub cut shares of Renasant from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine cut shares of Renasant from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Sandler O’Neill upgraded shares of Renasant from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $46.00.

In other Renasant news, EVP Stuart Johnson sold 7,910 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $47.20, for a total transaction of $373,352.00. Following the completion of the transaction, the executive vice president now owns 47,428 shares of the company’s stock, valued at $2,238,601.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward Robinson Mcgraw sold 4,948 shares of the firm’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $46.48, for a total value of $229,983.04. Following the transaction, the insider now directly owns 230,258 shares of the company’s stock, valued at approximately $10,702,391.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,763 shares of company stock worth $1,715,014. 3.41% of the stock is currently owned by company insiders.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

Insider Buying and Selling by Quarter for Renasant (NASDAQ:RNST)

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