Renasant (RNST) Scheduled to Post Quarterly Earnings on Tuesday

Renasant (NASDAQ:RNST) will be announcing its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.63 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.12. The business had revenue of $230.79 million for the quarter, compared to analysts’ expectations of $160.63 million. Renasant had a return on equity of 7.98% and a net margin of 15.94%. During the same period last year, the firm earned $0.89 earnings per share. On average, analysts expect Renasant to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Renasant Price Performance

NASDAQ:RNST opened at $28.85 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $30.61 and its two-hundred day simple moving average is $29.73. The stock has a market cap of $1.62 billion, a PE ratio of 11.18 and a beta of 1.03. Renasant has a 52 week low of $22.99 and a 52 week high of $34.85.

Renasant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.05%. Renasant’s payout ratio is 34.11%.

Institutional Trading of Renasant

Several institutional investors have recently added to or reduced their stakes in RNST. JPMorgan Chase & Co. lifted its stake in Renasant by 14.6% in the first quarter. JPMorgan Chase & Co. now owns 223,044 shares of the financial services provider’s stock worth $7,460,000 after purchasing an additional 28,419 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Renasant by 13.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,225 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 760 shares in the last quarter. Citigroup Inc. raised its stake in shares of Renasant by 12.0% during the first quarter. Citigroup Inc. now owns 49,405 shares of the financial services provider’s stock valued at $1,653,000 after acquiring an additional 5,309 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Renasant by 84.4% during the first quarter. Bank of Montreal Can now owns 41,006 shares of the financial services provider’s stock valued at $1,398,000 after acquiring an additional 18,769 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Renasant by 53.1% during the first quarter. MetLife Investment Management LLC now owns 29,195 shares of the financial services provider’s stock valued at $977,000 after acquiring an additional 10,121 shares in the last quarter. Institutional investors own 77.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RNST shares. Keefe, Bruyette & Woods raised their price objective on Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. Truist Financial cut their price objective on Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, April 1st. StockNews.com upgraded Renasant from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Stephens lifted their price target on Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $33.00.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.