Renasant (NASDAQ:RNST) Stock Rating Upgraded by StockNews.com

Renasant (NASDAQ:RNST) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other brokerages have also issued reports on RNST. Stephens upped their target price on Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Truist Financial cut their target price on Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods upped their target price on Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $33.00.

Renasant Stock Performance

Shares of RNST opened at $29.85 on Friday. The company has a market cap of $1.68 billion, a PE ratio of 12.13 and a beta of 1.03. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $30.26 and a 200-day moving average price of $29.90. Renasant has a 12-month low of $22.99 and a 12-month high of $34.85.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $254.56 million during the quarter, compared to the consensus estimate of $159.60 million. Renasant had a return on equity of 7.44% and a net margin of 14.67%. During the same quarter last year, the company posted $0.82 EPS. As a group, equities analysts forecast that Renasant will post 2.63 earnings per share for the current fiscal year.

Institutional Trading of Renasant

Several hedge funds and other institutional investors have recently bought and sold shares of RNST. SG Americas Securities LLC bought a new position in shares of Renasant during the third quarter valued at approximately $865,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Renasant by 23.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,191 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 2,350 shares in the last quarter. Strs Ohio raised its holdings in shares of Renasant by 14.3% during the third quarter. Strs Ohio now owns 30,300 shares of the financial services provider’s stock valued at $793,000 after acquiring an additional 3,800 shares in the last quarter. Watershed Asset Management L.L.C. raised its holdings in shares of Renasant by 8.2% during the third quarter. Watershed Asset Management L.L.C. now owns 8,957 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 680 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Renasant by 89.4% during the third quarter. Victory Capital Management Inc. now owns 4,535,641 shares of the financial services provider’s stock valued at $118,788,000 after acquiring an additional 2,140,613 shares in the last quarter. Institutional investors own 77.31% of the company’s stock.

Renasant Company Profile

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.