Renasant Corp. (RNST) Scheduled to Post Earnings on Tuesday
Renasant Corp. (NASDAQ:RNST) will post its Q316 quarterly earnings results on Tuesday, October 18th. Analysts expect Renasant Corp. to post earnings of $0.58 per share and revenue of $113.47 million for the quarter.
Renasant Corp. (NASDAQ:RNST) opened at 32.88 on Monday. Renasant Corp. has a 12-month low of $29.49 and a 12-month high of $37.28. The firm has a 50-day moving average of $34.10 and a 200 day moving average of $33.41. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 16.56 and a beta of 0.98.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were paid a $0.18 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.72 annualized dividend and a dividend yield of 2.19%. Renasant Corp.’s dividend payout ratio (DPR) is 36.36%.
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RNST has been the subject of several analyst reports. Jefferies Group reissued a “buy” rating and issued a $39.00 price target on shares of Renasant Corp. in a research note on Wednesday, July 20th. Zacks Investment Research raised shares of Renasant Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, September 17th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Renasant Corp. has a consensus rating of “Hold” and a consensus target price of $35.20.
In other Renasant Corp. news, Director Fred F. Sharpe bought 1,000 shares of Renasant Corp. 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP R Rick Hart sold 4,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $33.15, for a total transaction of $132,600.00. Following the sale, the executive vice president now owns 69,139 shares in the company, valued at $2,291,957.85. The disclosure for this sale can be found here. Company insiders own 5.18% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in RNST. Vanguard Group Inc. raised its stake in Renasant Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 1,484,637 shares of the financial services provider’s stock worth $47,998,000 after buying an additional 56,046 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Renasant Corp. by 1.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,047,215 shares of the financial services provider’s stock worth $33,856,000 after buying an additional 14,683 shares during the period. Lord Abbett & CO. LLC raised its stake in Renasant Corp. by 6.6% in the second quarter. Lord Abbett & CO. LLC now owns 927,809 shares of the financial services provider’s stock worth $29,996,000 after buying an additional 57,800 shares during the period. Nuveen Asset Management LLC raised its stake in Renasant Corp. by 19.1% in the second quarter. Nuveen Asset Management LLC now owns 259,533 shares of the financial services provider’s stock worth $8,391,000 after buying an additional 41,685 shares during the period. Finally, Baird Financial Group Inc. raised its stake in Renasant Corp. by 2.1% in the second quarter. Baird Financial Group Inc. now owns 211,568 shares of the financial services provider’s stock worth $6,840,000 after buying an additional 4,333 shares during the period. Institutional investors own 60.13% of the company’s stock.
About Renasant Corp.
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.
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