Brokerages expect Renasant Corporation (NASDAQ:RNST) to report sales of $126.97 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Renasant Corporation’s earnings, with estimates ranging from $125.00 million to $128.70 million. Renasant Corporation posted sales of $114.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.4%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, October 17th.

On average, analysts expect that Renasant Corporation will report full-year sales of $126.97 million for the current year, with estimates ranging from $469.80 million to $479.40 million. For the next financial year, analysts forecast that the company will report sales of $525.97 million per share, with estimates ranging from $518.60 million to $534.40 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Renasant Corporation.

Renasant Corporation (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. Renasant Corporation had a return on equity of 8.31% and a net margin of 20.31%. The business had revenue of $113.87 million during the quarter, compared to the consensus estimate of $112.43 million. During the same period in the previous year, the company posted $0.59 earnings per share.

RNST has been the topic of several analyst reports. Zacks Investment Research upgraded Renasant Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. BidaskClub lowered Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods set a $43.00 price objective on Renasant Corporation and gave the company a “hold” rating in a research note on Saturday, May 27th. ValuEngine upgraded Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC restated a “hold” rating and set a $44.00 price objective on shares of Renasant Corporation in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Renasant Corporation currently has an average rating of “Hold” and an average target price of $43.50.

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In other news, Director Fred F. Sharpe bought 4,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was bought at an average price of $42.36 per share, for a total transaction of $169,440.00. Following the transaction, the director now owns 9,666 shares in the company, valued at $409,451.76. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael D. Shmerling bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average price of $41.50 per share, with a total value of $41,500.00. Following the transaction, the director now owns 156,347 shares in the company, valued at approximately $6,488,400.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 9,023 shares of company stock valued at $375,621. 3.86% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Renasant Corporation during the first quarter valued at approximately $140,000. AlphaOne Investment Services LLC raised its position in shares of Renasant Corporation by 0.9% in the first quarter. AlphaOne Investment Services LLC now owns 120,050 shares of the financial services provider’s stock valued at $4,766,000 after buying an additional 1,031 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Renasant Corporation during the first quarter valued at approximately $245,000. Dean Investment Associates LLC raised its position in shares of Renasant Corporation by 9.2% in the first quarter. Dean Investment Associates LLC now owns 125,415 shares of the financial services provider’s stock valued at $4,978,000 after buying an additional 10,590 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Renasant Corporation by 5.8% in the first quarter. Parametric Portfolio Associates LLC now owns 56,035 shares of the financial services provider’s stock valued at $2,224,000 after buying an additional 3,062 shares during the last quarter. Institutional investors own 62.10% of the company’s stock.

Renasant Corporation (RNST) opened at 40.04 on Friday. The firm has a market capitalization of $1.97 billion, a P/E ratio of 18.06 and a beta of 1.04. Renasant Corporation has a one year low of $32.51 and a one year high of $45.31. The company has a 50-day moving average price of $41.11 and a 200-day moving average price of $41.52.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.72 dividend on an annualized basis and a yield of 1.80%. Renasant Corporation’s dividend payout ratio (DPR) is presently 32.58%.

Renasant Corporation Company Profile

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

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Earnings History and Estimates for Renasant Corporation (NASDAQ:RNST)

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