Renasant (NYSE:RNST) Trading 1.5% Higher – Still a Buy?

Shares of Renasant Corp (NYSE:RNST) traded up 1.5% during mid-day trading on Wednesday . The company traded as high as $39.80 and last traded at $39.56. 1,412,111 shares changed hands during mid-day trading, an increase of 92% from the average session volume of 733,900 shares. The stock had previously closed at $38.99.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RNST. Wall Street Zen upgraded Renasant from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Renasant in a report on Wednesday, January 28th. Finally, Hovde Group upgraded Renasant from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Renasant currently has an average rating of “Buy”.

Renasant Stock Performance

The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 18.66 and a beta of 0.99. The firm has a fifty day moving average of $37.87.

Renasant (NYSE:RNST) last posted its earnings results on Tuesday, January 27th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $278.52 million during the quarter, compared to analyst estimates of $269.00 million. Renasant had a net margin of 12.55% and a return on equity of 7.53%.

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. 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. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.