Renasant (NASDAQ:RNST) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday.

RNST has been the subject of several other reports. Zacks Investment Research raised Renasant from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday. ValuEngine raised Renasant from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $43.00 price target on shares of Renasant in a report on Friday, September 29th. Finally, Sandler O’Neill reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Renasant in a report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.25.

Renasant (NASDAQ RNST) traded up $0.17 during trading hours on Thursday, reaching $43.71. The company had a trading volume of 163,155 shares, compared to its average volume of 166,083. The firm has a market cap of $2,160.00, a PE ratio of 19.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.93. Renasant has a 1-year low of $37.68 and a 1-year high of $45.31.

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

In related news, Director Michael D. Shmerling acquired 1,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $39.40 per share, with a total value of $39,400.00. Following the acquisition, the director now directly owns 157,347 shares of the company’s stock, valued at $6,199,471.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J Niles Mcneel sold 10,000 shares of Renasant stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $42.39, for a total value of $423,900.00. Following the completion of the transaction, the director now directly owns 29,921 shares of the company’s stock, valued at $1,268,351.19. The disclosure for this sale can be found here. Insiders sold a total of 32,729 shares of company stock valued at $1,356,863 over the last ninety days. Insiders own 3.86% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in RNST. Schwab Charles Investment Management Inc. raised its holdings in Renasant by 3.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 182,292 shares of the financial services provider’s stock valued at $7,974,000 after acquiring an additional 6,157 shares in the last quarter. Rhumbline Advisers raised its holdings in Renasant by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 52,615 shares of the financial services provider’s stock valued at $2,301,000 after acquiring an additional 2,200 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Renasant by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 297,139 shares of the financial services provider’s stock valued at $12,997,000 after purchasing an additional 6,792 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Renasant by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 16,021 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 178 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Renasant by 123.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,466 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 3,016 shares during the last quarter. 64.66% of the stock is owned by hedge funds and other institutional investors.

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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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