Renasant Corp. Sees Large Volume Increase After Earnings Beat (RNST)
Renasant Corp. (NASDAQ:RNST) shares saw an uptick in trading volume on Wednesday after the company announced better than expected quarterly earnings, Stock Ratings Network.com reports. 100,808 shares traded hands during trading, an increase of 57% from the previous session’s volume of 64,172 shares.The stock last traded at $29.00 and had previously closed at $28.49.
The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.03. During the same quarter in the previous year, the company posted $0.32 earnings per share.
RNST has been the subject of a number of recent research reports. Analysts at Sandler O’Neill reiterated a “hold” rating on shares of Renasant Corp. in a research note on Tuesday, June 24th. They now have a $32.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods upgraded shares of Renasant Corp. from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 22nd. They now have a $30.00 price target on the stock. Finally, analysts at Drexel Hamilton initiated coverage on shares of Renasant Corp. in a research note on Thursday, May 8th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $32.10.
The stock has a 50-day moving average of $28.84 and a 200-day moving average of $28.72. The company has a market cap of $915.6 million and a P/E ratio of 20.93.
Renasant Corporation is a bank holding company. The Company owns and operates Renasant Bank (NASDAQ:RNST), a Mississippi banking association with operations in Mississippi, Tennessee, Alabama and Georgia, and Renasant Insurance, Inc, a Mississippi corporation with operations in Mississippi.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.