RNST has been the topic of several other research reports. ValuEngine raised Renasant from a sell rating to a hold rating in a research note on Wednesday, October 7th. DA Davidson downgraded Renasant from a buy rating to a neutral rating and cut their price objective for the company from $28.50 to $27.00 in a report on Tuesday, September 15th. Finally, Piper Sandler boosted their price objective on Renasant from $25.00 to $28.00 and gave the company a neutral rating in a report on Thursday, October 29th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $27.00.
Shares of Renasant stock opened at $36.19 on Thursday. Renasant has a 52 week low of $18.22 and a 52 week high of $37.64. The business’s fifty day simple moving average is $33.11 and its 200-day simple moving average is $27.38. The firm has a market cap of $2.03 billion, a PE ratio of 21.16 and a beta of 1.40. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 0.18.
Renasant (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Renasant had a return on equity of 5.62% and a net margin of 14.07%. The business had revenue of $177.21 million for the quarter, compared to analyst estimates of $164.28 million. As a group, equities analysts expect that Renasant will post 1.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 1st. Investors of record on Friday, December 18th were issued a $0.22 dividend. The ex-dividend date was Thursday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.43%. Renasant’s dividend payout ratio is presently 30.24%.
In related news, CFO James C. Iv Mabry purchased 28,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were bought at an average price of $28.98 per share, for a total transaction of $811,440.00. Following the acquisition, the chief financial officer now directly owns 60,286 shares in the company, valued at $1,747,088.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James W. Gray sold 832 shares of the company’s stock in a transaction dated Friday, November 20th. The stock was sold at an average price of $31.55, for a total value of $26,249.60. Following the sale, the executive vice president now owns 30,292 shares in the company, valued at approximately $955,712.60. The disclosure for this sale can be found here. 3.99% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. increased its holdings in Renasant by 180.2% during the 3rd quarter. Sei Investments Co. now owns 28,636 shares of the financial services provider’s stock worth $651,000 after purchasing an additional 18,415 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Renasant by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,578 shares of the financial services provider’s stock worth $9,897,000 after purchasing an additional 16,281 shares during the period. Provident Wealth Management LLC purchased a new position in shares of Renasant in the 3rd quarter valued at about $39,000. Keybank National Association OH increased its holdings in shares of Renasant by 52.5% in the 3rd quarter. Keybank National Association OH now owns 31,575 shares of the financial services provider’s stock valued at $717,000 after acquiring an additional 10,875 shares during the last quarter. Finally, First Republic Investment Management Inc. purchased a new position in shares of Renasant in the 2nd quarter valued at about $456,000. Institutional investors own 68.98% of the company’s stock.
Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities.
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