Renasant Co. (NASDAQ:RNST) Receives Average Rating of “Moderate Buy” from Analysts

Renasant Co. (NASDAQ:RNSTGet Rating) has been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $37.25.

Several research firms recently commented on RNST. initiated coverage on Renasant in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Raymond James upgraded Renasant from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Thursday, October 27th. Finally, Stephens raised their target price on Renasant from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, October 28th.

Institutional Investors Weigh In On Renasant

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc grew its holdings in shares of Renasant by 327.8% during the 3rd quarter. IFP Advisors Inc now owns 492 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 377 shares during the period. EverSource Wealth Advisors LLC increased its stake in Renasant by 274.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 914 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 670 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in Renasant by 279.3% in the second quarter. Pinebridge Investments L.P. now owns 1,138 shares of the financial services provider’s stock worth $33,000 after buying an additional 838 shares during the last quarter. KBC Group NV purchased a new position in Renasant in the 2nd quarter worth approximately $126,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in Renasant by 13.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,225 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 760 shares during the period. Institutional investors own 76.10% of the company’s stock.

Renasant Stock Up 1.1 %

NASDAQ:RNST opened at $36.98 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 13.21 and a beta of 1.15. Renasant has a twelve month low of $27.61 and a twelve month high of $41.77. The stock’s 50 day moving average price is $39.05 and its two-hundred day moving average price is $35.09.

Renasant (NASDAQ:RNSTGet Rating) last released its earnings results on Tuesday, October 25th. The financial services provider reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. The firm had revenue of $171.50 million during the quarter, compared to the consensus estimate of $158.35 million. Renasant had a return on equity of 7.38% and a net margin of 24.05%. Equities research analysts expect that Renasant will post 3.01 earnings per share for the current fiscal year.

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Friday, December 16th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, December 15th. Renasant’s dividend payout ratio (DPR) is currently 31.43%.

Renasant Company Profile

(Get Rating)

Renasant Corporation operates as a bank holding company for Renasant Bank that 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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