Equities analysts predict that Renasant Corp. (NASDAQ:RNST) will report $153.47 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Renasant’s earnings, with the highest sales estimate coming in at $153.90 million and the lowest estimate coming in at $153.20 million. Renasant posted sales of $127.97 million during the same quarter last year, which suggests a positive year over year growth rate of 19.9%. The business is expected to report its next quarterly earnings results after the market closes on Monday, July 22nd.
According to Zacks, analysts expect that Renasant will report full-year sales of $610.00 million for the current fiscal year, with estimates ranging from $609.20 million to $610.80 million. For the next year, analysts expect that the firm will post sales of $629.50 million, with estimates ranging from $625.30 million to $637.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Renasant.
Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Renasant had a net margin of 24.55% and a return on equity of 8.76%. The firm had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $150.40 million. During the same quarter last year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 20.6% compared to the same quarter last year.
In related news, EVP James W. Gray sold 2,431 shares of Renasant stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $34.84, for a total value of $84,696.04. Following the sale, the executive vice president now owns 58,880 shares of the company’s stock, valued at approximately $2,051,379.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.64% of the company’s stock.
Several large investors have recently bought and sold shares of RNST. Great West Life Assurance Co. Can raised its holdings in shares of Renasant by 38.2% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,697 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 1,850 shares during the period. Smith Shellnut Wilson LLC ADV bought a new stake in shares of Renasant in the 1st quarter worth approximately $222,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Renasant in the 4th quarter worth approximately $223,000. BW Gestao de Investimentos Ltda. raised its holdings in shares of Renasant by 50.4% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 7,445 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 2,495 shares during the period. Finally, United Services Automobile Association raised its holdings in shares of Renasant by 14.7% in the 4th quarter. United Services Automobile Association now owns 7,816 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 999 shares during the period. 61.79% of the stock is currently owned by institutional investors.
Shares of Renasant stock traded up $0.21 during mid-day trading on Monday, hitting $34.62. 269,323 shares of the stock were exchanged, compared to its average volume of 252,409. Renasant has a 12 month low of $28.02 and a 12 month high of $47.65. The firm’s 50-day moving average is $35.20. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.03 billion, a P/E ratio of 11.54 and a beta of 1.20.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Thursday, June 13th. This is a boost from Renasant’s previous quarterly dividend of $0.21. Renasant’s payout ratio is 29.33%.
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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