Positive Media Coverage Extremely Likely to Impact Renasant Corp. (RNST) Stock Price

Media headlines about Renasant Corp. (NASDAQ:RNST) have been trending positive recently, according to Alpha One Sentiment. The research group, a subsidiary of Accern, identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Renasant Corp. earned a coverage optimism score of 0.28 on Alpha One’s scale. Alpha One also gave news headlines about the financial services provider an impact score of 93 out of 100, indicating that recent press coverage is extremely likely to have an impact on the company’s share price in the next several days.

Here are some of the headlines that may have effected AlphaOne Sentiment’s rankings:

Renasant Corp. (NASDAQ:RNST) opened at 40.60 on Friday. Renasant Corp. has a 12-month low of $30.21 and a 12-month high of $44.65. The stock has a 50 day moving average price of $41.40 and a 200-day moving average price of $40.58. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 18.55 and a beta of 1.02.

Renasant Corp. (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $106.04 million for the quarter, compared to the consensus estimate of $109.87 million. Renasant Corp. had a return on equity of 8.75% and a net margin of 19.50%. During the same quarter in the prior year, the business posted $0.54 EPS. On average, analysts predict that Renasant Corp. will post $2.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 1.77%. Renasant Corp.’s payout ratio is currently 33.33%.

A number of brokerages have commented on RNST. Zacks Investment Research cut Renasant Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $44.00 price objective on shares of Renasant Corp. in a research note on Wednesday, April 5th.

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In related news, EVP Stuart Johnson sold 4,339 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $40.81, for a total value of $177,074.59. Following the sale, the executive vice president now owns 8,084 shares in the company, valued at approximately $329,908.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael D. Ross sold 1,492 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $40.85, for a total value of $60,948.20. The disclosure for this sale can be found here. Insiders sold a total of 24,135 shares of company stock worth $1,000,896 in the last 90 days. 5.18% of the stock is currently owned by company insiders.

About Renasant Corp.

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

12 Month Chart for NASDAQ:RNST

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