Shares of Renasant Co. (NASDAQ:RNST) have earned a consensus recommendation of "Hold" from the seven analysts that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $34.33.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Renasant from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research report on Wednesday, April 7th. Truist decreased their price objective on shares of Renasant from $46.00 to $38.00 and set a "hold" rating for the company in a research report on Thursday. Finally, Raymond James restated a "hold" rating on shares of Renasant in a report on Friday, June 4th.
Shares of RNST traded up $0.21 during mid-day trading on Thursday, hitting $35.61. 1,715 shares of the company's stock were exchanged, compared to its average volume of 273,556. Renasant has a 52 week low of $20.89 and a 52 week high of $46.97. The stock has a 50-day moving average of $40.66. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 14.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 0.96.
Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Monday, July 26th. The financial services provider reported $0.72 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.76 by ($0.04). The company had revenue of $109.58 million during the quarter, compared to the consensus estimate of $172.85 million. Renasant had a net margin of 18.15% and a return on equity of 6.85%. Renasant's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. Sell-side analysts forecast that Renasant will post 2.9 earnings per share for the current year.
In related news, EVP James W. Gray sold 9,066 shares of the business's stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $38.23, for a total transaction of $346,593.18. Following the completion of the transaction, the executive vice president now owns 25,115 shares of the company's stock, valued at $960,146.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.77% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in RNST. Toronto Dominion Bank bought a new stake in Renasant during the first quarter valued at approximately $35,000. Captrust Financial Advisors lifted its position in Renasant by 1,074.0% during the first quarter. Captrust Financial Advisors now owns 1,174 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 1,074 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Renasant during the first quarter valued at approximately $200,000. Amalgamated Bank bought a new stake in Renasant during the first quarter valued at approximately $202,000. Finally, Fox Run Management L.L.C. bought a new stake in Renasant during the first quarter valued at approximately $219,000. Institutional investors and hedge funds own 81.04% of the company's stock.
Renasant Company Profile
Renasant Corporation operates as a bank holding company for Renasant Bank, which 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.
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