Wall Street brokerages expect Renasant Corp. (NASDAQ:RNST) to post sales of $124.05 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Renasant’s earnings, with the lowest sales estimate coming in at $123.50 million and the highest estimate coming in at $124.60 million. Renasant reported sales of $106.04 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 17%. The company is expected to announce its next quarterly earnings report on Tuesday, April 24th.
On average, analysts expect that Renasant will report full-year sales of $124.05 million for the current financial year, with estimates ranging from $510.90 million to $520.80 million. For the next financial year, analysts anticipate that the company will post sales of $551.20 million per share, with estimates ranging from $543.50 million to $558.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Renasant.
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 Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $125.70 million during the quarter, compared to the consensus estimate of $124.55 million. Renasant had a return on equity of 8.45% and a net margin of 18.19%.
In related news, Director Fred F. Sharpe purchased 2,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was bought at an average cost of $43.80 per share, for a total transaction of $87,600.00. Following the completion of the transaction, the director now directly owns 11,666 shares in the company, valued at $510,970.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP R Rick Hart sold 10,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $43.17, for a total value of $431,700.00. Following the completion of the sale, the executive vice president now owns 83,450 shares of the company’s stock, valued at $3,602,536.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,679 shares of company stock valued at $1,362,610 over the last quarter. Corporate insiders own 3.86% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Inc. lifted its position in Renasant by 13.3% in the second 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 last quarter. Ameritas Investment Partners Inc. lifted its position in Renasant by 7.5% in the second 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 last quarter. Highwater Wealth Management LLC bought a new stake in Renasant in the third quarter worth $213,000. Jane Street Group LLC purchased a new stake in Renasant in the third quarter worth $217,000. Finally, Citigroup Inc. increased its stake in Renasant by 315.8% in the second quarter. Citigroup Inc. now owns 6,694 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 5,084 shares during the period. Institutional investors own 65.28% of the company’s stock.
Renasant (NASDAQ:RNST) opened at $41.85 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2,052.75, a P/E ratio of 17.20 and a beta of 1.03. Renasant has a 52-week low of $37.68 and a 52-week high of $45.31.
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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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