Renasant (NASDAQ:RNST) Raised to Hold at StockNews.com

Renasant (NASDAQ:RNST - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also recently issued reports about the company. TheStreet upgraded Renasant from a "c+" rating to a "b-" rating in a research note on Thursday, December 14th. Stephens raised their target price on Renasant from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 30th. 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. Finally, Truist Financial dropped their price objective on Renasant from $35.00 to $33.00 and set a "hold" rating on the stock in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Renasant presently has a consensus rating of "Hold" and a consensus target price of $33.00.

Renasant Stock Up 1.3 %

Shares of RNST traded up $0.38 during midday trading on Tuesday, reaching $30.55. 157,267 shares of the stock were exchanged, compared to its average volume of 239,008. Renasant has a 52 week low of $22.99 and a 52 week high of $34.85. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19. The company's 50 day moving average is $30.80 and its two-hundred day moving average is $29.63. The company has a market capitalization of $1.72 billion, a P/E ratio of 11.84 and a beta of 1.03.

Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.12. Renasant had a return on equity of 7.98% and a net margin of 15.94%. The company had revenue of $230.79 million for the quarter, compared to the consensus estimate of $160.63 million. During the same quarter last year, the company earned $0.89 earnings per share. On average, sell-side analysts anticipate that Renasant will post 2.63 earnings per share for the current year.

Institutional Investors Weigh In On Renasant

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of Renasant during the 4th quarter worth about $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Renasant in the 4th quarter valued at about $37,000. TFO Wealth Partners LLC lifted its holdings in shares of Renasant by 13,710.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 1,371 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Renasant by 26.6% in the 3rd quarter. Covestor Ltd now owns 2,204 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 463 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in shares of Renasant in the 4th quarter valued at about $74,000. Hedge funds and other 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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