Renasant Corporation (NASDAQ:RNST) has been given an average rating of “Hold” by the five analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $43.50.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Renasant Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Jefferies Group LLC reiterated a “hold” rating and set a $44.00 price target on shares of Renasant Corporation in a report on Friday, July 14th. BidaskClub cut Renasant Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. ValuEngine upgraded Renasant Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $43.00 price target on Renasant Corporation and gave the stock a “hold” rating in a report on Saturday, May 27th.
Renasant Corporation (NASDAQ:RNST) traded down 0.20% during mid-day trading on Tuesday, hitting $39.44. The stock had a trading volume of 119,009 shares. The company has a market cap of $1.94 billion, a PE ratio of 17.79 and a beta of 1.06. The firm’s 50-day moving average price is $40.28 and its 200 day moving average price is $41.39. Renasant Corporation has a one year low of $32.51 and a one year high of $45.32.
Renasant Corporation (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $113.87 million during the quarter, compared to analysts’ expectations of $112.43 million. Renasant Corporation had a return on equity of 8.31% and a net margin of 20.31%. During the same period in the prior year, the business posted $0.59 EPS. On average, equities research analysts anticipate that Renasant Corporation will post $2.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, September 14th. Renasant Corporation’s dividend payout ratio is presently 32.58%.
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In other news, Director Fred F. Sharpe bought 2,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $39.55 per share, for a total transaction of $79,100.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Albert J. Dale III sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $42.54, for a total value of $638,100.00. Following the transaction, the director now owns 25,620 shares of the company’s stock, valued at $1,089,874.80. The disclosure for this sale can be found here. Insiders have purchased a total of 9,023 shares of company stock valued at $375,621 over the last 90 days. 3.86% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in RNST. Teachers Advisors LLC boosted its holdings in Renasant Corporation by 2.1% during the 4th quarter. Teachers Advisors LLC now owns 67,190 shares of the financial services provider’s stock valued at $2,837,000 after acquiring an additional 1,358 shares during the period. Nationwide Fund Advisors boosted its holdings in Renasant Corporation by 3.3% during the 1st quarter. Nationwide Fund Advisors now owns 31,929 shares of the financial services provider’s stock valued at $1,267,000 after acquiring an additional 1,020 shares during the period. Russell Investments Group Ltd. boosted its holdings in Renasant Corporation by 139.5% during the 1st quarter. Russell Investments Group Ltd. now owns 32,310 shares of the financial services provider’s stock valued at $1,283,000 after acquiring an additional 18,818 shares during the period. Wells Fargo & Company MN boosted its holdings in Renasant Corporation by 49.1% during the 1st quarter. Wells Fargo & Company MN now owns 956,436 shares of the financial services provider’s stock valued at $37,962,000 after acquiring an additional 315,049 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Renasant Corporation by 57.5% during the 1st quarter. First Trust Advisors LP now owns 132,177 shares of the financial services provider’s stock valued at $5,246,000 after acquiring an additional 48,251 shares during the period. Institutional investors own 62.10% of the company’s stock.
About Renasant Corporation
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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