Renasant (NASDAQ:RNST - Get Free Report) is expected to post its quarterly earnings results after the market closes on Tuesday, July 22nd. Analysts expect Renasant to post earnings of $0.74 per share and revenue of $263.97 million for the quarter.
Renasant (NASDAQ:RNST - Get Free Report) last released its 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. The company had revenue of $170.59 million during 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 in the previous year, the company posted $0.65 EPS. On average, analysts expect Renasant to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Renasant Stock Performance
NASDAQ:RNST opened at $39.23 on Tuesday. The business has a 50 day moving average of $35.65 and a 200 day moving average of $34.89. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 12.00 and a beta of 0.90. Renasant has a 1-year low of $26.97 and a 1-year high of $39.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.
Renasant Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.22 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.88 annualized dividend and a yield of 2.24%. Renasant's payout ratio is currently 27.33%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Renasant by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,105 shares of the financial services provider's stock worth $6,416,000 after buying an additional 23,072 shares during the period. Royal Bank of Canada grew its holdings in Renasant by 128.5% during the 1st quarter. Royal Bank of Canada now owns 52,238 shares of the financial services provider's stock valued at $1,772,000 after buying an additional 29,380 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Renasant by 40.3% in the 1st quarter. Intech Investment Management LLC now owns 41,959 shares of the financial services provider's stock worth $1,424,000 after purchasing an additional 12,062 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Renasant by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,167 shares of the financial services provider's stock worth $1,261,000 after purchasing an additional 1,621 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Renasant in the 1st quarter worth approximately $390,000. Institutional investors own 77.31% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on RNST shares. Raymond James Financial upgraded Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price objective for the company in a research report on Thursday, April 24th. Hovde Group upped their price target on Renasant from $34.50 to $35.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their target price on Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $41.00.
Get Our Latest Stock Report on Renasant
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.
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