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

Shares of Renasant Co. (NASDAQ:RNST - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $41.00.

Several equities analysts recently issued reports on RNST shares. Hovde Group raised 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 reduced their target price on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Stephens lifted their price target on shares of Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Raymond James upgraded shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price objective on the stock in a report on Thursday, April 24th. Finally, Piper Sandler raised their price objective on shares of Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th.

Insiders Place Their Bets

In related news, CAO Kelly Hutcheson sold 1,310 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $36.72, for a total value of $48,103.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,586 shares in the company, valued at approximately $645,757.92. The trade was a 6.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.81% of the company's stock.

Hedge Funds Weigh In On Renasant

A number of large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its stake in Renasant by 2.8% in the 1st quarter. HighTower Advisors LLC now owns 11,825 shares of the financial services provider's stock valued at $401,000 after buying an additional 322 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Renasant by 4.1% in the 4th quarter. Bank of Montreal Can now owns 9,619 shares of the financial services provider's stock valued at $344,000 after acquiring an additional 383 shares in the last quarter. CWM LLC increased 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 last quarter. Arizona State Retirement System increased its position in shares of Renasant by 2.4% in the fourth quarter. Arizona State Retirement System now owns 18,445 shares of the financial services provider's stock valued at $659,000 after acquiring an additional 424 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its holdings in Renasant by 3.6% during the fourth quarter. Sheets Smith Wealth Management now owns 12,471 shares of the financial services provider's stock worth $446,000 after acquiring an additional 438 shares in the last quarter. Institutional investors own 77.31% of the company's stock.

Renasant Price Performance

RNST traded up $0.36 during midday trading on Friday, hitting $35.87. The company had a trading volume of 765,718 shares, compared to its average volume of 643,842. Renasant has a twelve month low of $26.97 and a twelve month high of $39.63. The company has a market capitalization of $2.28 billion, a PE ratio of 10.97 and a beta of 0.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96. The firm's 50-day simple moving average is $32.14 and its 200-day simple moving average is $35.06.

Renasant (NASDAQ:RNST - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06. The firm had revenue of $170.59 million during 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 quarter in the previous year, the company posted $0.65 EPS. Equities research analysts predict that Renasant will post 2.68 EPS for the current fiscal year.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, June 16th. Renasant's payout ratio is presently 27.33%.

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.