Renasant Corp (NYSE:RNST) Given Consensus Rating of "Buy" by Analysts

Key Points

• Analysts give Renasant a consensus Buy rating (four buys, one strong buy) with an average 1‑year target of about $43.00, and several firms recently raised price targets or upgraded the stock.
• Renasant beat quarterly estimates (EPS $0.91 vs $0.80 expected; revenue $278.5M vs $269.0M expected) and announced a $0.23 quarterly dividend (annualized $0.92, ~2.6% yield; DPR ~43.4%).

Renasant Corp (NYSE:RNST - Get Free Report) has received an average recommendation of "Buy" from the five brokerages that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $43.00.

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of Renasant from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Hovde Group increased their price objective on shares of Renasant from $41.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. TD Cowen reaffirmed a "buy" rating on shares of Renasant in a report on Thursday, January 29th. Finally, Wall Street Zen upgraded Renasant from a "sell" rating to a "hold" rating in a research report on Sunday.

Renasant Stock Performance

NYSE RNST traded down $0.30 during trading on Thursday, reaching $35.98. The company's stock had a trading volume of 533,227 shares, compared to its average volume of 753,758. The business's fifty day moving average is $38.21. Renasant has a twelve month low of $26.97 and a twelve month high of $42.11. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 16.97 and a beta of 0.97.

Renasant (NYSE:RNST - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. Renasant had a return on equity of 7.53% and a net margin of 12.55%.The company had revenue of $278.52 million during the quarter, compared to analysts' expectations of $269.00 million.

Renasant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, March 17th. Renasant's dividend payout ratio (DPR) is 43.40%.

Insider Buying and Selling

In other Renasant news, EVP Mark Jeanfreau sold 6,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $37.88, for a total value of $227,280.00. Following the transaction, the executive vice president owned 65,172 shares in the company, valued at approximately $2,468,715.36. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kelly Hutcheson sold 1,350 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $38.65, for a total value of $52,177.50. Following the sale, the chief accounting officer owned 16,728 shares of the company's stock, valued at $646,537.20. This trade represents a 7.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,850 shares of company stock worth $752,333 in the last 90 days. Insiders own 2.81% of the company's stock.

Institutional Trading of Renasant

Several institutional investors and hedge funds have recently bought and sold shares of RNST. Maryland State Retirement & Pension System raised its position in shares of Renasant by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 13,939 shares of the company's stock valued at $491,000 after buying an additional 279 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Renasant by 1.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,701 shares of the company's stock worth $764,000 after purchasing an additional 300 shares during the period. Jones Financial Companies Lllp raised its holdings in Renasant by 12.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,825 shares of the company's stock valued at $106,000 after buying an additional 306 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Renasant by 27.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,464 shares of the company's stock worth $52,000 after purchasing an additional 312 shares during the last quarter. Finally, Resolute Wealth Strategies LLC increased its stake in shares of Renasant by 0.4% during the second quarter. Resolute Wealth Strategies LLC now owns 77,499 shares of the company's stock valued at $2,785,000 after buying an additional 318 shares during the period. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.

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