Renasant (NASDAQ:RNST) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Shares of Renasant Co. (NASDAQ:RNST - Get Free Report) crossed 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 traded.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RNST. Keefe, Bruyette & Woods lowered their price target on Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Hovde Group lifted their price objective on Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Finally, 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. One 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Renasant Price Performance

The stock has a market capitalization of $3.41 billion, a PE ratio of 10.97 and a beta of 0.91. The company has a 50-day moving average of $32.87 and a 200 day moving average of $34.95. 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 (NASDAQ:RNST - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $170.59 million for the quarter, compared to the consensus estimate of $170.38 million. Renasant had a return on equity of 6.58% and a net margin of 17.91%. During the same quarter last year, the business posted $0.65 earnings per share. Sell-side analysts predict that Renasant Co. will post 2.68 EPS for the current year.

Renasant Announces Dividend

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

Institutional Trading of Renasant

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of Renasant in the first quarter valued at $28,000. Mascagni Wealth Management Inc. purchased a new position in shares of Renasant in the 4th quarter valued at about $44,000. CWM LLC lifted its position in shares of Renasant by 42.7% during the 1st quarter. CWM LLC now owns 1,330 shares of the financial services provider's stock worth $45,000 after buying an additional 398 shares during the last quarter. State of Wyoming acquired a new position in Renasant in the first quarter valued at $51,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Renasant during the first quarter worth approximately $54,000. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

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.