Renasant’s (RNST) “Hold” Rating Reaffirmed at Sandler O’Neill

Renasant (NASDAQ:RNST)‘s stock had its “hold” rating restated by equities research analysts at Sandler O’Neill in a research note issued on Thursday. They currently have a $45.00 target price on the financial services provider’s stock. Sandler O’Neill’s price target suggests a potential upside of 8.28% from the stock’s current price.

RNST has been the subject of a number of other research reports. ValuEngine upgraded Renasant from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Zacks Investment Research upgraded Renasant from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, September 20th. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 target price on shares of Renasant in a report on Friday, September 29th. Finally, BidaskClub lowered Renasant from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Renasant currently has an average rating of “Hold” and a consensus price target of $44.75.

Renasant (NASDAQ:RNST) traded up $0.15 during trading on Thursday, reaching $41.56. The company’s stock had a trading volume of 139,800 shares, compared to its average volume of 181,933. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market capitalization of $2,050.00, a price-to-earnings ratio of 18.98 and a beta of 1.01. Renasant has a one year low of $37.68 and a one year high of $45.31.

Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). The company had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $127.07 million. Renasant had a return on equity of 8.15% and a net margin of 20.44%. During the same quarter in the prior year, the company earned $0.59 EPS. research analysts anticipate that Renasant will post 2.31 earnings per share for the current year.

In other news, EVP William Mark Williams sold 7,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $41.32, for a total transaction of $289,240.00. Following the transaction, the executive vice president now directly owns 21,652 shares of the company’s stock, valued at $894,660.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director J Niles Mcneel sold 10,000 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $42.39, for a total value of $423,900.00. Following the transaction, the director now directly owns 29,921 shares in the company, valued at $1,268,351.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,729 shares of company stock worth $1,356,863. Insiders own 3.86% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Advisor Group Inc. increased its position in shares of Renasant by 13.3% during the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 371 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Renasant by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 264 shares in the last quarter. Highwater Wealth Management LLC acquired a new position in shares of Renasant during the third quarter worth $213,000. Jane Street Group LLC acquired a new position in shares of Renasant during the third quarter worth $217,000. Finally, Amalgamated Bank increased its position in shares of Renasant by 1.2% during the second quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 65 shares in the last quarter. 64.66% of the stock is currently owned by institutional investors and hedge funds.

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Renasant 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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