Renasant (NASDAQ:RNST - Get Free Report) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02, Briefing.com reports. The company had revenue of $254.56 million for the quarter, compared to the consensus estimate of $159.60 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 business posted $0.82 EPS.
Renasant Price Performance
RNST stock traded up $0.15 during trading on Wednesday, reaching $30.66. The company's stock had a trading volume of 545,052 shares, compared to its average volume of 241,083. The company has a market capitalization of $1.72 billion, a P/E ratio of 11.88 and a beta of 1.03. The company's fifty day moving average is $30.36 and its 200-day moving average is $29.87. 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 1 year low of $22.99 and a 1 year high of $34.85.
Renasant Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.22 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.87%. Renasant's payout ratio is presently 34.11%.
Analyst Ratings Changes
Several analysts recently weighed in on RNST shares. Stephens upped their price target on Renasant from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 30th. Truist Financial decreased their target price on Renasant from $35.00 to $33.00 and set a "hold" rating on the stock in a report on Monday, April 1st. StockNews.com cut Renasant from a "hold" rating to a "sell" rating in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods raised their target price on Renasant from $34.00 to $35.00 and gave the stock a "market perform" rating in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $33.00.
View Our Latest Stock Report on Renasant
About Renasant
(
Get Free Report)
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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