Renasant (RNST) Expected to Announce Earnings on Tuesday

Renasant (NASDAQ:RNST - Get Free Report) is expected to announce its earnings results after the market closes on Tuesday, July 22nd. Analysts expect the company to announce earnings of $0.74 per share and revenue of $263.97 million for the quarter.

Renasant (NASDAQ:RNST - Get Free Report) last released its quarterly earnings results 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. Renasant had a net margin of 17.91% and a return on equity of 6.58%. The business had revenue of $170.59 million for the quarter, compared to the consensus estimate of $170.38 million. During the same period last year, the firm earned $0.65 earnings per share. 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

RNST traded down $0.17 during trading on Friday, hitting $38.90. The company's stock had a trading volume of 183,035 shares, compared to its average volume of 752,994. 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 has a one year low of $26.97 and a one year high of $39.63. The firm has a market cap of $3.70 billion, a PE ratio of 11.89 and a beta of 0.90. The business's 50 day simple moving average is $36.07 and its 200-day simple moving average is $34.98.

Renasant Dividend Announcement

The firm also recently declared 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 2.26%. Renasant's payout ratio is presently 27.33%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RNST shares. Keefe, Bruyette & Woods decreased their price target on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Raymond James Financial 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 research report on Thursday, April 24th. Finally, Hovde Group raised their price objective on shares of Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Institutional Trading of Renasant

Several institutional investors and hedge funds have recently modified their holdings of RNST. Intech Investment Management LLC increased its holdings in Renasant by 40.3% in the 1st quarter. Intech Investment Management LLC now owns 41,959 shares of the financial services provider's stock valued at $1,424,000 after acquiring an additional 12,062 shares during the last quarter. Jane Street Group LLC bought a new stake in Renasant in the 1st quarter valued at $390,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Renasant by 13.9% in the 1st 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 valued at $6,416,000 after acquiring an additional 23,072 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Renasant in the 1st quarter valued at $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 valued at $1,261,000 after acquiring an additional 1,621 shares during the last quarter. 77.31% of the stock is currently owned by 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.