Brokerages Expect Renasant Corp. (RNST) to Post $0.79 EPS

Equities research analysts forecast that Renasant Corp. (NASDAQ:RNST) will report earnings of $0.79 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Renasant’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.78. Renasant posted earnings of $0.64 per share during the same quarter last year, which would suggest a positive year over year growth rate of 23.4%. The firm is expected to announce its next quarterly earnings report on Tuesday, January 15th.

According to Zacks, analysts expect that Renasant will report full-year earnings of $3.01 per share for the current year, with EPS estimates ranging from $3.00 to $3.02. For the next financial year, analysts anticipate that the company will post earnings of $3.28 per share, with EPS estimates ranging from $3.25 to $3.33. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Renasant.

Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Monday, October 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Renasant had a net margin of 20.84% and a return on equity of 8.70%. The firm had revenue of $138.90 million during the quarter, compared to the consensus estimate of $142.06 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis.

RNST has been the topic of several research reports. Zacks Investment Research lowered shares of Renasant from a “hold” rating to a “sell” rating in a report on Wednesday, December 26th. Stephens set a $50.00 price objective on shares of Renasant and gave the company a “hold” rating in a report on Tuesday, October 23rd. ValuEngine raised shares of Renasant from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. TheStreet lowered shares of Renasant from a “b-” rating to a “c+” rating in a report on Tuesday, December 11th. Finally, BidaskClub raised shares of Renasant from a “strong sell” rating to a “sell” rating in a report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.00.

Shares of RNST stock opened at $32.93 on Friday. The company has a market cap of $1.93 billion, a P/E ratio of 13.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.96. Renasant has a 52-week low of $28.02 and a 52-week high of $49.78.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Investors of record on Tuesday, December 18th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.55%. This is a positive change from Renasant’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, December 17th. Renasant’s dividend payout ratio (DPR) is presently 34.71%.

In other news, insider Bartow Morgan, Jr. purchased 25,000 shares of the business’s stock in a transaction on Monday, December 10th. The shares were acquired at an average cost of $32.95 per share, with a total value of $823,750.00. Following the completion of the acquisition, the insider now owns 346,522 shares of the company’s stock, valued at $11,417,899.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Fred F. Sharpe purchased 1,000 shares of the business’s stock in a transaction on Monday, November 5th. The stock was purchased at an average cost of $35.45 per share, for a total transaction of $35,450.00. Following the completion of the acquisition, the director now directly owns 13,676 shares of the company’s stock, valued at approximately $484,814.20. The disclosure for this purchase can be found here. Insiders acquired 42,238 shares of company stock worth $1,394,435 over the last ninety days. Corporate insiders own 3.41% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC grew its holdings in shares of Renasant by 1.0% during the third quarter. Teachers Advisors LLC now owns 89,222 shares of the financial services provider’s stock valued at $3,677,000 after buying an additional 855 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Renasant by 1.3% during the third quarter. Vanguard Group Inc now owns 4,098,733 shares of the financial services provider’s stock valued at $168,909,000 after buying an additional 54,183 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Renasant by 213.7% during the third quarter. Federated Investors Inc. PA now owns 734 shares of the financial services provider’s stock valued at $30,000 after buying an additional 500 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Renasant during the third quarter valued at $836,000. Finally, Marshall Wace LLP purchased a new stake in shares of Renasant during the third quarter valued at $3,726,000. 59.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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