Renasant Corp (NYSE:RNST) Stock Has Consensus Target Price of $46.67 According to Analysts

Key Points

• Analysts maintain a bullish view: All five covering brokerages rate Renasant “Buy,” with an average 12-month price target of $46.67 versus the stock’s $40.14 opening price.
• Quarterly results missed expectations: Renasant reported EPS of $0.86 and revenue of about $273 million, below consensus estimates of $0.94 and $282.3 million, respectively, despite year-over-year EPS growth.
• Growth and shareholder-return initiatives support the outlook: Renasant agreed to acquire Commercial Holding Company for approximately $140 million and authorized a $175 million share buyback; it also pays a $0.24 quarterly dividend, yielding about 2.4%.

Shares of Renasant Corp (NYSE:RNST - Get Free Report) have received an average rating of "Buy" from the five brokerages that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have covered the stock in the last year is $46.67.

A number of equities research analysts have recently weighed in on RNST shares. Weiss Ratings raised Renasant from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. TD Cowen lowered their target price on Renasant from $49.00 to $46.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. Raymond James Financial lowered Renasant from a "strong-buy" rating to an "outperform" rating in a research report on Thursday. Finally, Piper Sandler increased their price target on Renasant from $46.00 to $48.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th.

Renasant Stock Down 3.5%

RNST stock opened at $40.14 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. Renasant has a fifty-two week low of $33.04 and a fifty-two week high of $44.54. The firm's 50-day simple moving average is $40.39 and its 200 day simple moving average is $40.15. The stock has a market cap of $3.67 billion, a PE ratio of 12.02 and a beta of 0.97.

Renasant (NYSE:RNST - Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.94 by ($0.08). Renasant had a net margin of 19.94% and a return on equity of 8.67%. The firm had revenue of $272.96 million for the quarter, compared to analyst estimates of $282.34 million. During the same period in the previous year, the firm earned $0.77 earnings per share. As a group, sell-side analysts predict that Renasant will post 3.77 EPS for the current year.

Renasant Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, September 16th. Renasant's dividend payout ratio is currently 26.89%.

Key Stories Impacting Renasant

Here are the key news stories impacting Renasant this week:

• Positive Sentiment: Renasant agreed to acquire Commercial Holding Company in a transaction valued at approximately $140 million. The deal would expand Renasant’s West Tennessee franchise with more than $900 million in low-cost, core deposits. Management expects the acquisition to add roughly 4% to earnings per share and close in the first quarter of 2027. Renasant Corporation to Acquire Commercial Holding Company
• Positive Sentiment: The company’s board authorized a $175 million share buyback, while a related tranche update provided further details on the repurchase program. Buybacks can support per-share results and signal confidence in the company’s valuation. Renasant Corporation announces an Equity Buyback
• Neutral Sentiment: Third-quarter earnings increased from $0.77 to $0.86 per share year over year, with reported net margin of 19.94% and return on equity of 8.67%. However, the results were below expectations, limiting the positive impact of the year-over-year improvement. Renasant Reports Third-Quarter Earnings Results
• Negative Sentiment: Renasant reported adjusted EPS of $0.86, missing the consensus estimate of $0.94, while revenue of approximately $272.7 million fell short of the $282.3 million estimate. The simultaneous earnings and revenue misses are the primary reason investors are pressuring RNST shares. Renasant Lags Q3 Earnings and Revenue Estimates

Insider Buying and Selling

In other Renasant news, Director Edward Mcgraw sold 35,000 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $43.88, for a total transaction of $1,535,800.00. Following the sale, the director directly owned 211,458 shares in the company, valued at approximately $9,278,777.04. The trade was a 14.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.07% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cibc World Market Inc. bought a new stake in shares of Renasant in the 2nd quarter worth approximately $5,025,000. William Blair Investment Management LLC acquired a new stake in Renasant during the second quarter valued at approximately $32,882,000. BlackRock Inc. bought a new stake in Renasant during the second quarter worth approximately $566,683,000. Hsbc Holdings PLC bought a new stake in Renasant during the first quarter worth approximately $1,822,000. Finally, Deutsche Bank AG acquired a new position in Renasant in the second quarter worth approximately $4,177,000. Institutional investors and hedge funds own 77.31% of the company's stock.

About Renasant

Renasant Corporation is a financial services holding company headquartered in Tupelo, Mississippi. Through its principal subsidiary, Renasant Bank, the company provides banking and related financial services to individuals, families, small businesses, commercial clients and other organizations.

Renasant Bank offers deposit accounts, consumer and commercial lending, residential mortgages, treasury management and other business banking services. Its broader offerings also include wealth management, trust and investment services, financial planning and insurance-related solutions.

Renasant traces its banking history to 1904 and has expanded through organic growth and acquisitions.

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