Renasant (RNST) Scheduled to Post Quarterly Earnings on Tuesday

Renasant (NASDAQ:RNST) is set to issue its quarterly earnings data after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.63 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. The company had revenue of $230.79 million for the quarter, compared to the consensus estimate of $160.63 million. Renasant had a net margin of 15.94% and a return on equity of 7.98%. During the same quarter last year, the firm posted $0.89 earnings per share. On average, analysts expect Renasant to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Renasant Stock Performance

NASDAQ:RNST opened at $28.85 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.62 billion, a P/E ratio of 11.18 and a beta of 1.03. Renasant has a fifty-two week low of $22.99 and a fifty-two week high of $34.85. The firm’s 50 day moving average is $30.61 and its two-hundred day moving average is $29.73.

Renasant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, June 14th. Renasant’s payout ratio is currently 34.11%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RNST. JPMorgan Chase & Co. lifted its position in shares of Renasant by 14.6% in the 1st quarter. JPMorgan Chase & Co. now owns 223,044 shares of the financial services provider’s stock worth $7,460,000 after buying an additional 28,419 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of 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 buying an additional 760 shares during the last quarter. Citigroup Inc. lifted its position in shares of Renasant by 12.0% in the 1st quarter. Citigroup Inc. now owns 49,405 shares of the financial services provider’s stock worth $1,653,000 after buying an additional 5,309 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Renasant by 84.4% in the 1st quarter. Bank of Montreal Can now owns 41,006 shares of the financial services provider’s stock worth $1,398,000 after buying an additional 18,769 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Renasant by 53.1% in the 1st quarter. MetLife Investment Management LLC now owns 29,195 shares of the financial services provider’s stock worth $977,000 after buying an additional 10,121 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RNST has been the subject of several recent research reports. StockNews.com raised shares of Renasant from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods increased their price objective on shares of Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th. Truist Financial dropped their price objective on shares of Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Finally, Stephens raised their price target on shares of Renasant from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.00.

About Renasant

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. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.