Renasant Co. (NASDAQ:RNST) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Renasant Co. (NASDAQ:RNST - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $41.00.

RNST has been the topic of several analyst reports. Hovde Group increased their price target on Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, Raymond James raised Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target for the company in a report on Thursday, April 24th.

Institutional Investors Weigh In On Renasant

Several institutional investors have recently added to or reduced their stakes in RNST. Quantbot Technologies LP purchased a new stake in Renasant in the first quarter worth approximately $28,000. Mascagni Wealth Management Inc. bought a new position in Renasant in the 4th quarter valued at approximately $44,000. CWM LLC increased its holdings in Renasant by 42.7% in the 1st quarter. CWM LLC now owns 1,330 shares of the financial services provider's stock worth $45,000 after buying an additional 398 shares in the last quarter. State of Wyoming purchased a new stake in Renasant in the first quarter worth approximately $51,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Renasant during the first quarter valued at $54,000. 77.31% of the stock is owned by hedge funds and other institutional investors.

Renasant Stock Performance

RNST traded up $1.08 on Wednesday, hitting $35.73. 594,573 shares of the company's stock were exchanged, compared to its average volume of 667,662. Renasant has a twelve month low of $26.97 and a twelve month high of $39.63. The firm has a market cap of $3.39 billion, a PE ratio of 10.93 and a beta of 0.91. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $32.43 and a two-hundred day moving average of $34.98.

Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. The firm had revenue of $170.59 million for the quarter, compared to analysts' expectations of $170.38 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same period in the previous year, the business earned $0.65 earnings per share. On average, research analysts anticipate that Renasant will post 2.68 earnings per share for the current fiscal year.

Renasant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, June 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.46%. Renasant's dividend payout ratio (DPR) is currently 27.33%.

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.