Renasant (NASDAQ:RNST) PT Lowered to $33.00 at Truist Financial

Renasant (NASDAQ:RNST - Get Free Report) had its price target decreased by stock analysts at Truist Financial from $35.00 to $33.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "hold" rating on the financial services provider's stock. Truist Financial's target price points to a potential upside of 6.97% from the company's previous close.

A number of other brokerages also recently commented on RNST. TheStreet raised shares of Renasant from a "c+" rating to a "b-" rating in a research note on Thursday, December 14th. Stephens boosted their price objective on shares of Renasant from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 30th. StockNews.com downgraded shares of Renasant from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Renasant from $34.00 to $35.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $33.00.

Renasant Trading Down 1.5 %

Shares of Renasant stock traded down $0.47 on Monday, hitting $30.85. 334,535 shares of the company traded hands, compared to its average volume of 243,292. The stock's 50 day moving average price is $31.20 and its 200-day moving average price is $29.40. The company has a current ratio of 0.91, a quick ratio of 0.90 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 company has a market cap of $1.73 billion, a PE ratio of 12.14 and a beta of 1.03.

Renasant (NASDAQ:RNST - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.12. Renasant had a net margin of 15.94% and a return on equity of 7.98%. The firm had revenue of $230.79 million during the quarter, compared to the consensus estimate of $160.63 million. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Equities research analysts predict that Renasant will post 2.56 EPS for the current year.

Institutional Investors Weigh In On Renasant

A number of large investors have recently made changes to their positions in RNST. GAMMA Investing LLC purchased a new stake in shares of Renasant during the fourth quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Renasant during the fourth quarter valued at $37,000. TFO Wealth Partners LLC grew its holdings in shares of Renasant by 13,710.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider's stock valued at $47,000 after buying an additional 1,371 shares during the last quarter. Covestor Ltd grew its holdings in shares of Renasant by 26.6% during the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider's stock valued at $58,000 after buying an additional 463 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in Renasant in the fourth quarter valued at $74,000. 77.31% of the stock is owned by hedge funds and other institutional investors.

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. 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.