Equities research analysts expect that Renasant Corp. (NASDAQ:RNST) will post earnings of $0.55 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Renasant Corp.’s earnings. The highest EPS estimate is $0.56 and the lowest is $0.55. Renasant Corp. posted earnings per share of $0.59 in the same quarter last year, which suggests a negative year-over-year growth rate of 6.8%. The business is expected to announce its next earnings report on Tuesday, July 18th.
According to Zacks, analysts expect that Renasant Corp. will report full-year earnings of $2.33 per share for the current year, with EPS estimates ranging from $2.32 to $2.35. For the next year, analysts anticipate that the business will post earnings of $2.64 per share, with EPS estimates ranging from $2.60 to $2.68. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Renasant Corp..
Renasant Corp. (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $106.04 million for the quarter, compared to analyst estimates of $109.87 million. Renasant Corp. had a net margin of 19.50% and a return on equity of 8.75%. During the same period in the previous year, the business posted $0.54 earnings per share.
A number of research firms recently weighed in on RNST. Zacks Investment Research cut shares of Renasant Corp. from a “buy” rating to a “hold” rating in a report on Thursday, April 13th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Renasant Corp. in a report on Wednesday, April 5th.
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In related news, EVP R Rick Hart sold 5,304 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $40.70, for a total value of $215,872.80. Following the sale, the executive vice president now owns 77,718 shares of the company’s stock, valued at approximately $3,163,122.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael D. Ross sold 32,735 shares of the stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $40.77, for a total transaction of $1,334,605.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,870 shares of company stock worth $1,998,702. Corporate insiders own 5.18% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in RNST. Ameritas Investment Partners Inc. purchased a new stake in Renasant Corp. during the first quarter worth $140,000. Fuller & Thaler Asset Management Inc. boosted its position in Renasant Corp. by 26.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,300 shares of the financial services provider’s stock valued at $145,000 after buying an additional 900 shares during the last quarter. New York State Teachers Retirement System bought a new position in Renasant Corp. during the fourth quarter valued at approximately $152,000. Great Lakes Advisors LLC bought a new position in Renasant Corp. during the first quarter valued at approximately $245,000. Finally, Sei Investments Co. boosted its position in Renasant Corp. by 7.6% in the third quarter. Sei Investments Co. now owns 7,364 shares of the financial services provider’s stock valued at $248,000 after buying an additional 519 shares during the last quarter. 59.29% of the stock is currently owned by institutional investors and hedge funds.
Renasant Corp. (NASDAQ:RNST) opened at 42.33 on Wednesday. Renasant Corp. has a 1-year low of $30.21 and a 1-year high of $44.65. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 19.34 and a beta of 1.02. The firm has a 50-day moving average of $40.83 and a 200-day moving average of $40.17.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.70%. Renasant Corp.’s dividend payout ratio (DPR) is presently 33.33%.
Renasant Corp. 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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