Renasant Co. (NASDAQ:RNST) Given Average Recommendation of “Hold” by Analysts

Shares of Renasant Co. (NASDAQ:RNST) have been assigned an average recommendation of “Hold” from the four analysts that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $33.00.

Several research analysts have commented on the company. Stephens lifted their price target on Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Truist Financial dropped their price target on Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods lifted their price target on Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th.

Institutional Trading of Renasant

Several institutional investors have recently modified their holdings of RNST. Victory Capital Management Inc. grew its holdings in shares of Renasant by 89.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,535,641 shares of the financial services provider’s stock worth $118,788,000 after purchasing an additional 2,140,613 shares in the last quarter. Norges Bank acquired a new stake in shares of Renasant during the 4th quarter worth approximately $13,469,000. Hsbc Holdings PLC acquired a new stake in shares of Renasant during the 4th quarter worth approximately $3,883,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Renasant by 7.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,441 shares of the financial services provider’s stock worth $25,443,000 after purchasing an additional 50,084 shares in the last quarter. Finally, Mendon Capital Advisors Corp acquired a new stake in shares of Renasant during the 4th quarter worth approximately $1,684,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

Renasant Stock Down 1.3 %

Shares of RNST stock opened at $29.47 on Tuesday. The stock’s 50 day simple moving average is $30.21 and its 200 day simple moving average is $29.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. Renasant has a twelve month low of $22.99 and a twelve month high of $34.85. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 11.98 and a beta of 1.03.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Renasant had a return on equity of 7.44% and a net margin of 14.67%. The business had revenue of $254.56 million for the quarter, compared to the consensus estimate of $159.60 million. During the same period last year, the business earned $0.82 EPS. As a group, research analysts predict that Renasant will post 2.62 EPS for the current year.

Renasant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, June 14th. Renasant’s payout ratio is presently 35.77%.

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.