Equities research analysts expect Renasant Corp. (NASDAQ:RNST) to report earnings of $0.69 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Renasant’s earnings, with estimates ranging from $0.68 to $0.69. Renasant reported earnings per share of $0.55 during the same quarter last year, which would suggest a positive year-over-year growth rate of 25.5%. The company is scheduled to report its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Renasant will report full year earnings of $3.01 per share for the current year, with EPS estimates ranging from $2.94 to $3.11. For the next year, analysts anticipate that the business will post earnings of $3.26 per share, with EPS estimates ranging from $3.15 to $3.33. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Renasant.
Renasant (NASDAQ:RNST) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Renasant had a return on equity of 8.45% and a net margin of 18.19%. The firm had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $124.55 million.
Shares of Renasant (RNST) traded up $0.09 during mid-day trading on Friday, hitting $42.85. The stock had a trading volume of 111,646 shares, compared to its average volume of 137,246. Renasant has a 1 year low of $37.68 and a 1 year high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2,113.40, a PE ratio of 21.75 and a beta of 1.03.
In other news, EVP R Rick Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $43.17, for a total transaction of $431,700.00. Following the transaction, the executive vice president now owns 83,450 shares of the company’s stock, valued at $3,602,536.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fred F. Sharpe bought 2,000 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were acquired at an average cost of $43.80 per share, for a total transaction of $87,600.00. Following the purchase, the director now owns 11,666 shares of the company’s stock, valued at approximately $510,970.80. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 32,679 shares of company stock worth $1,362,610. Insiders own 3.86% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. boosted its holdings in shares of Renasant by 13.3% in the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 371 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Renasant by 5.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 192,407 shares of the financial services provider’s stock valued at $8,255,000 after purchasing an additional 10,115 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Renasant by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 304,512 shares of the financial services provider’s stock valued at $13,063,000 after purchasing an additional 7,373 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Renasant by 2.8% in the second quarter. Vanguard Group Inc. now owns 3,505,554 shares of the financial services provider’s stock valued at $153,333,000 after purchasing an additional 95,523 shares during the period. Finally, Citigroup Inc. boosted its holdings in shares of Renasant by 315.8% in the second quarter. Citigroup Inc. now owns 6,694 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 5,084 shares during the period. Hedge funds and other institutional investors own 65.28% of the company’s stock.
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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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