Renasant Co. (NASDAQ:RNST - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $34.97 and traded as high as $36.69. Renasant shares last traded at $36.22, with a volume of 442,414 shares changing hands.
Wall Street Analyst Weigh In
RNST has been the subject of a number of research analyst reports. Raymond James upgraded shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 target price for the company in a research note on Thursday, April 24th. Hovde Group raised their price target on shares of Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.00.
Read Our Latest Research Report on RNST
Renasant Trading Down 2.8%
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 firm has a market cap of $3.31 billion, a price-to-earnings ratio of 10.65 and a beta of 0.91. The business's fifty day moving average is $33.01 and its two-hundred day moving average is $34.91.
Renasant (NASDAQ:RNST - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 EPS 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 analyst estimates of $170.38 million. During the same quarter in the previous year, the business earned $0.65 EPS. Equities analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current fiscal year.
Renasant Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, June 16th. Renasant's dividend payout ratio is presently 27.33%.
Institutional Trading of Renasant
Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in Renasant by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider's stock worth $11,018,000 after acquiring an additional 8,710 shares during the period. Bank of America Corp DE grew its holdings in Renasant by 376.5% during the 4th quarter. Bank of America Corp DE now owns 605,303 shares of the financial services provider's stock worth $21,640,000 after acquiring an additional 478,266 shares during the period. Ameriprise Financial Inc. grew its holdings in Renasant by 38.9% during the 4th quarter. Ameriprise Financial Inc. now owns 209,083 shares of the financial services provider's stock worth $7,475,000 after acquiring an additional 58,526 shares during the period. BankPlus Trust Department bought a new position in shares of Renasant during the fourth quarter worth $399,000. Finally, Nuveen Asset Management LLC boosted its position in shares of Renasant by 0.6% during the fourth quarter. Nuveen Asset Management LLC now owns 395,764 shares of the financial services provider's stock worth $14,149,000 after purchasing an additional 2,405 shares in the last quarter. Institutional investors and hedge funds own 77.31% of the company's stock.
About Renasant
(
Get Free Report)
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.
Featured Articles
Before you consider Renasant, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Renasant wasn't on the list.
While Renasant currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
