Recent Analysts’ Ratings Changes for Renasant (RNST)

Several brokerages have updated their recommendations and price targets on shares of Renasant (NASDAQ: RNST) in the last few weeks:

  • 1/26/2018 – Renasant was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 1/19/2018 – Renasant was given a new $47.00 price target on by analysts at Hovde Group. They now have a “hold” rating on the stock.
  • 1/11/2018 – Renasant was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 1/10/2018 – Renasant was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $47.00 price target on the stock. According to Zacks, “Renasant Corporation is the parent of Renasant Bank and Renasant Insurance, Inc. “
  • 1/4/2018 – Renasant had its “hold” rating reaffirmed by analysts at Sandler O’Neill. They now have a $45.00 price target on the stock.
  • 12/29/2017 – Renasant was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 12/22/2017 – Renasant had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $45.00 price target on the stock.
  • 12/20/2017 – Renasant was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 12/12/2017 – Renasant was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Renasant Corp. (NASDAQ:RNST) opened at $43.72 on Monday. The firm has a market cap of $2,160.00, a P/E ratio of 22.08 and a beta of 1.01. Renasant Corp. has a 12-month low of $37.68 and a 12-month 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.

Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. The firm had revenue of $125.70 million during the quarter, compared to the consensus estimate of $124.55 million. sell-side analysts anticipate that Renasant Corp. will post 3.03 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were given a dividend of $0.19 per share. 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 dividend on an annualized basis and a dividend yield of 1.74%. Renasant’s dividend payout ratio is currently 38.38%.

In related news, Director Michael D. Shmerling bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average price of $39.40 per share, for a total transaction of $39,400.00. Following the completion of the transaction, the director now owns 157,347 shares in the company, valued at $6,199,471.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Niles Mcneel sold 12,990 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $40.85, for a total transaction of $530,641.50. Following the transaction, the director now owns 24,431 shares of the company’s stock, valued at approximately $998,006.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,729 shares of company stock valued at $932,963. 3.86% of the stock is owned by company insiders.

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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