Renasant Co. (NASDAQ:RNST) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Renasant Co. (NASDAQ:RNST - Get Free Report) have received an average recommendation of "Moderate Buy" from the six brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $41.67.

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

Institutional Investors Weigh In On Renasant

Large investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Renasant in the first quarter valued at approximately $28,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Renasant in the fourth quarter valued at approximately $44,000. CWM LLC increased its stake 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 purchasing an additional 398 shares during the period. State of Wyoming acquired a new stake in shares of Renasant in the first quarter valued at approximately $51,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Renasant during the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 77.31% of the company's stock.

Renasant Price Performance

Shares of Renasant stock traded down $0.63 during trading on Thursday, hitting $36.38. 671,146 shares of the company were exchanged, compared to its average volume of 754,319. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. Renasant has a fifty-two week low of $26.97 and a fifty-two week high of $39.63. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 11.12 and a beta of 0.90. The firm has a 50 day moving average price of $36.29 and a 200 day moving average price of $35.04.

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

Renasant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, June 16th. This represents a $0.88 annualized dividend and a yield of 2.42%. Renasant's dividend payout ratio (DPR) is 34.65%.

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.