Shares of Renasant Corp. (NASDAQ:RNST) have received a consensus recommendation of “Hold” from the seven research firms that are covering the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $35.50.

Several research firms have recently issued reports on RNST. Zacks Investment Research raised shares of Renasant Corp. from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, June 29th. Raymond James Financial Inc. cut shares of Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 price objective for the company. in a research report on Monday, September 12th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $39.00 price objective on shares of Renasant Corp. in a research report on Wednesday, July 20th.

Shares of Renasant Corp. (NASDAQ:RNST) traded up 0.12% during midday trading on Tuesday, hitting $33.74. The stock had a trading volume of 17,183 shares. The firm has a 50 day moving average price of $33.95 and a 200-day moving average price of $33.30. The stock has a market cap of $1.42 billion, a PE ratio of 16.99 and a beta of 0.98. Renasant Corp. has a 52-week low of $29.49 and a 52-week high of $37.28.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/renasant-corp-nasdaqrnst-given-consensus-recommendation-of-hold-by-analysts.html

Renasant Corp. (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Renasant Corp. had a net margin of 18.32% and a return on equity of 8.53%. Equities analysts predict that Renasant Corp. will post $2.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 12th. This represents a $0.72 annualized dividend and a yield of 2.14%. Renasant Corp.’s payout ratio is 36.36%.

In other Renasant Corp. news, insider O Leonard Dorminey sold 6,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $33.01, for a total transaction of $198,060.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Fred F. Sharpe bought 1,000 shares of the stock in a transaction on Monday, August 29th. The shares were bought at an average cost of $35.12 per share, for a total transaction of $35,120.00. The disclosure for this purchase can be found here. Company insiders own 5.18% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in Renasant Corp. by 0.4% in the second quarter. Sei Investments Co. now owns 6,845 shares of the financial services provider’s stock valued at $221,000 after buying an additional 29 shares during the last quarter. Principal Financial Group Inc. boosted its position in Renasant Corp. by 2.2% in the second quarter. Principal Financial Group Inc. now owns 8,343 shares of the financial services provider’s stock valued at $270,000 after buying an additional 176 shares during the last quarter. California State Teachers Retirement System boosted its position in Renasant Corp. by 0.4% in the second quarter. California State Teachers Retirement System now owns 85,672 shares of the financial services provider’s stock valued at $2,770,000 after buying an additional 317 shares during the last quarter. Atlanta Capital Group boosted its position in Renasant Corp. by 1.5% in the second quarter. Atlanta Capital Group now owns 22,532 shares of the financial services provider’s stock valued at $728,000 after buying an additional 329 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Renasant Corp. by 6.6% in the first quarter. Envestnet Asset Management Inc. now owns 6,507 shares of the financial services provider’s stock valued at $214,000 after buying an additional 404 shares during the last quarter. 60.68% of the stock is currently owned by hedge funds and other institutional investors.

Renasant Corp. Company Profile

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.

5 Day Chart for NASDAQ:RNST

Receive News & Ratings for Renasant Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant Corp. and related companies with MarketBeat.com's FREE daily email newsletter.