Renasant Co. (NASDAQ:RNST) Receives $41.67 Consensus PT from Analysts

Renasant Co. (NASDAQ:RNST - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $41.67.

RNST has been the topic of several research reports. Keefe, Bruyette & Woods lowered their target price on Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Renasant in a report on Wednesday. Finally, Hovde Group lifted their price objective on shares of Renasant from $35.00 to $39.00 and gave the stock a "market perform" rating in a report on Wednesday.

Renasant Stock Performance

NASDAQ RNST traded up $0.28 during trading hours on Thursday, hitting $36.68. 622,467 shares of the stock were exchanged, compared to its average volume of 753,377. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $36.33 and a 200 day moving average of $35.06. Renasant has a 12-month low of $26.97 and a 12-month high of $39.63. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 11.22 and a beta of 0.90.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of Renasant during the 1st quarter worth about $28,000. Mascagni Wealth Management Inc. acquired a new position in shares of Renasant during the fourth quarter worth approximately $44,000. CWM LLC boosted its position in shares of Renasant by 42.7% in the first quarter. CWM LLC now owns 1,330 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 398 shares during the period. State of Wyoming acquired a new stake in shares of Renasant in the first quarter worth $51,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Renasant during the first quarter worth $54,000. Institutional investors own 77.31% of the company's stock.

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.