Zacks: Brokerages Anticipate Renasant Corp. (RNST) Will Post Earnings of $0.69 Per Share

Equities research analysts predict that Renasant Corp. (NASDAQ:RNST) will announce earnings per share (EPS) of $0.69 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Renasant’s earnings. The lowest EPS estimate is $0.68 and the highest is $0.69. Renasant posted earnings per share of $0.55 during the same quarter last year, which suggests a positive year-over-year growth rate of 25.5%. The firm is expected to issue its next earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that Renasant will report full-year earnings of $3.01 per share for the current fiscal year, with EPS estimates ranging from $2.94 to $3.11. For the next year, analysts anticipate that the firm will report earnings of $3.26 per share, with EPS estimates ranging from $3.15 to $3.33. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Renasant.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Renasant had a return on equity of 8.45% and a net margin of 18.19%. The firm had revenue of $125.70 million during the quarter, compared to analyst estimates of $124.55 million.

A number of equities research analysts have commented on RNST shares. Zacks Investment Research lowered Renasant from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. ValuEngine lowered Renasant from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. BidaskClub lowered Renasant from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $45.00 price objective on shares of Renasant in a research report on Friday, December 22nd. Finally, Sandler O’Neill restated a “hold” rating and set a $45.00 price objective on shares of Renasant in a research report on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Renasant presently has a consensus rating of “Hold” and a consensus target price of $45.60.

In other news, Director J Niles Mcneel sold 12,990 shares of Renasant stock in a transaction dated Tuesday, November 28th. The stock was 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 directly owns 24,431 shares in the company, valued at approximately $998,006.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fred F. Sharpe purchased 2,000 shares of Renasant stock in a transaction dated Friday, January 19th. The shares were purchased at an average price of $43.80 per share, with a total value of $87,600.00. Following the completion of the acquisition, the director now owns 11,666 shares in the company, valued at $510,970.80. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 32,679 shares of company stock valued at $1,362,610. 3.86% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in RNST. Alliancebernstein L.P. lifted its holdings in shares of Renasant by 4.3% during the 2nd quarter. Alliancebernstein L.P. now owns 55,751 shares of the financial services provider’s stock valued at $2,439,000 after buying an additional 2,300 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Renasant by 8.5% in the 2nd quarter. Teachers Advisors LLC now owns 77,663 shares of the financial services provider’s stock valued at $3,397,000 after acquiring an additional 6,092 shares in the last quarter. BlackRock Inc. raised its stake in shares of Renasant by 0.7% in the 2nd quarter. BlackRock Inc. now owns 2,820,549 shares of the financial services provider’s stock valued at $123,371,000 after acquiring an additional 18,829 shares in the last quarter. Amalgamated Bank raised its stake in shares of Renasant by 1.2% in the 2nd quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 65 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Renasant by 8.5% in the 2nd quarter. New York State Common Retirement Fund now owns 47,375 shares of the financial services provider’s stock valued at $2,072,000 after acquiring an additional 3,699 shares in the last quarter. Institutional investors and hedge funds own 65.39% of the company’s stock.

Shares of Renasant (RNST) opened at $41.62 on Friday. Renasant has a 1 year low of $37.68 and a 1 year high of $45.31. The company has a market capitalization of $2,003.92, a PE ratio of 21.13 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.93.

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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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