FIG Partners Comments on Renasant Corp.’s Q1 2018 Earnings (RNST)

Renasant Corp. (NASDAQ:RNST) – Analysts at FIG Partners issued their Q1 2018 EPS estimates for shares of Renasant in a research note issued to investors on Wednesday. FIG Partners analyst J. Rodis anticipates that the financial services provider will earn $0.67 per share for the quarter. FIG Partners also issued estimates for Renasant’s Q2 2018 earnings at $0.73 EPS, Q3 2018 earnings at $0.76 EPS and Q4 2018 earnings at $0.77 EPS.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data 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 company had revenue of $123.43 million during the quarter, compared to the consensus estimate of $127.07 million. Renasant had a net margin of 18.19% and a return on equity of 8.45%. During the same period in the previous year, the company earned $0.59 earnings per share.

A number of other equities analysts have also commented on RNST. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $45.00 price target on shares of Renasant in a research report on Friday, December 22nd. BidaskClub lowered shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. ValuEngine downgraded shares of Renasant from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Zacks Investment Research downgraded shares of Renasant from a “buy” rating to a “hold” rating in a research note on Saturday, October 21st. Finally, Sandler O’Neill reiterated a “hold” rating and set a $45.00 price objective on shares of Renasant in a research note on Thursday, January 4th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Renasant currently has an average rating of “Hold” and a consensus price target of $45.60.

Shares of Renasant (NASDAQ:RNST) traded down $0.72 on Friday, hitting $43.44. 202,900 shares of the stock traded hands, compared to its average volume of 197,400. The company has a market capitalization of $2,178.03, a price-to-earnings ratio of 22.05 and a beta of 1.01. Renasant has a 52 week low of $37.68 and a 52 week high of $45.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.93 and a quick ratio of 0.91.

Institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank boosted its position in Renasant by 1.2% during the 2nd quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock worth $237,000 after buying an additional 65 shares during the period. Legal & General Group Plc boosted its position in Renasant by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 16,021 shares of the financial services provider’s stock worth $702,000 after buying an additional 178 shares during the period. Ameritas Investment Partners Inc. boosted its position in Renasant by 7.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after buying an additional 264 shares during the period. Advisor Group Inc. boosted its position in Renasant by 13.3% during the 2nd quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after buying an additional 371 shares during the period. Finally, Citadel Advisors LLC boosted its position in Renasant by 6.2% during the 2nd quarter. Citadel Advisors LLC now owns 29,662 shares of the financial services provider’s stock worth $1,297,000 after buying an additional 1,742 shares during the period. Institutional investors own 65.33% of the company’s stock.

In other 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 sale, the executive vice president now directly owns 21,652 shares in the company, valued at approximately $894,660.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J Niles Mcneel sold 12,990 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $40.85, for a total transaction of $530,641.50. Following the completion of the sale, the director now owns 24,431 shares in the company, valued at $998,006.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,729 shares of company stock worth $1,356,863. 3.86% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a $0.19 dividend. This is an increase from Renasant’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Thursday, December 14th. Renasant’s dividend payout ratio (DPR) is presently 38.58%.

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About Renasant

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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