Renasant (NASDAQ:RNST) Cut to "Sell" at StockNews.com

Renasant (NASDAQ:RNST - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Friday.

Other research analysts have also recently issued research reports about the company. Truist Financial cut their target price on Renasant from $35.00 to $33.00 and set a "hold" rating on the stock in a research note on Monday, April 1st. Keefe, Bruyette & Woods upped their target price on Renasant from $34.00 to $35.00 and gave the company a "market perform" rating in a research note on Tuesday, January 30th. Finally, Stephens upped their target price on Renasant from $36.00 to $37.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $33.00.

Renasant Trading Up 3.4 %

NASDAQ RNST traded up $0.99 during trading hours on Friday, hitting $29.76. 220,322 shares of the company were exchanged, compared to its average volume of 238,683. The stock has a 50-day moving average price of $30.47 and a 200 day moving average price of $29.73. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.19. Renasant has a 52 week low of $22.99 and a 52 week high of $34.85. The stock has a market cap of $1.67 billion, a PE ratio of 11.53 and a beta of 1.03.

Renasant (NASDAQ:RNST - Get Free Report) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.12. The firm had revenue of $230.79 million for the quarter, compared to analysts' expectations of $160.63 million. Renasant had a return on equity of 7.98% and a net margin of 15.94%. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Analysts forecast that Renasant will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RNST. Duncan Williams Asset Management LLC purchased a new stake in Renasant during the first quarter worth $290,000. Vanguard Group Inc. lifted its holdings in Renasant by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider's stock worth $216,121,000 after buying an additional 16,417 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Renasant by 4.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 830,687 shares of the financial services provider's stock worth $27,978,000 after buying an additional 38,036 shares during the period. Mendon Capital Advisors Corp purchased a new stake in Renasant during the fourth quarter worth $1,684,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Renasant by 2.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,622 shares of the financial services provider's stock worth $1,739,000 after buying an additional 1,383 shares during the period. Institutional investors own 77.31% of the company's stock.

About Renasant

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.

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