Renasant Corp. (RNST) Given Average Recommendation of “Hold” by Analysts

Renasant Corp. (NASDAQ:RNST) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $44.67.

Several equities research analysts recently issued reports on the stock. Sandler O’Neill reissued a “hold” rating and issued a $45.00 target price on shares of Renasant in a research report on Thursday. Zacks Investment Research raised shares of Renasant from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Wednesday, September 20th. ValuEngine raised shares of Renasant from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $43.00 target price on shares of Renasant in a research report on Friday, September 29th. Finally, BidaskClub cut shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, December 29th.

Shares of Renasant (NASDAQ RNST) opened at $41.56 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.93 and a quick ratio of 0.91. Renasant has a 12-month low of $37.68 and a 12-month high of $45.31. The stock has a market cap of $2,050.00, a P/E ratio of 18.98 and a beta of 1.01.

Renasant (NASDAQ:RNST) last released its earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.08). Renasant had a return on equity of 8.15% and a net margin of 20.44%. The company had revenue of $123.43 million during the quarter, compared to analyst estimates of $127.07 million. During the same period in the prior year, the business posted $0.59 earnings per share. analysts anticipate that Renasant will post 2.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were issued a $0.19 dividend. This is a positive change from Renasant’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, December 14th. This represents a $0.76 annualized dividend and a yield of 1.83%. Renasant’s dividend payout ratio (DPR) is presently 34.70%.

In related news, EVP William Mark Williams sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $41.32, for a total value of $289,240.00. Following the transaction, the executive vice president now owns 21,652 shares in the company, valued at $894,660.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael D. Shmerling purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average price of $39.40 per share, for a total transaction of $39,400.00. Following the acquisition, the director now directly owns 157,347 shares of the company’s stock, valued at approximately $6,199,471.80. The disclosure for this purchase can be found here. Insiders sold 32,729 shares of company stock worth $1,356,863 in the last 90 days. 3.86% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of RNST. Advisor Group Inc. raised its stake in shares of Renasant by 13.3% during the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 371 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Renasant by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 264 shares during the period. Highwater Wealth Management LLC purchased a new stake in shares of Renasant during the third quarter valued at approximately $213,000. Jane Street Group LLC purchased a new stake in shares of Renasant during the third quarter valued at approximately $217,000. Finally, Amalgamated Bank raised its stake in shares of Renasant by 1.2% during the second quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 64.66% of the company’s stock.

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Renasant 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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