Shares of Renasant Corporation (NASDAQ:RNST) have been assigned an average rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.50.
RNST has been the subject of a number of research reports. Zacks Investment Research upgraded Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $43.00 price objective on shares of Renasant Corporation in a research report on Friday, September 29th. BidaskClub cut Renasant Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. ValuEngine upgraded Renasant Corporation from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $44.00 price objective on shares of Renasant Corporation in a research report on Friday, July 14th.
In related news, Director J Niles Mcneel sold 10,000 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $42.39, for a total transaction of $423,900.00. Following the completion of the sale, the director now owns 29,921 shares in the company, valued at $1,268,351.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Shmerling acquired 1,000 shares of Renasant Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average price of $41.50 per share, with a total value of $41,500.00. Following the transaction, the director now owns 156,347 shares of the company’s stock, valued at approximately $6,488,400.50. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 3,023 shares of company stock valued at $121,521. 3.86% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. increased its position in Renasant Corporation by 13.3% in the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after buying an additional 371 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Renasant Corporation by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after buying an additional 264 shares in the last quarter. New York State Teachers Retirement System increased its position in Renasant Corporation by 5.6% in the first quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock worth $151,000 after buying an additional 200 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Renasant Corporation in the second quarter worth about $214,000. Finally, Highwater Wealth Management LLC purchased a new stake in Renasant Corporation in the third quarter worth about $213,000. Institutional investors own 62.15% of the company’s stock.
Shares of Renasant Corporation (NASDAQ RNST) traded down 0.278% during midday trading on Wednesday, reaching $41.285. The company had a trading volume of 67,044 shares. The stock has a market capitalization of $2.04 billion, a PE ratio of 18.774 and a beta of 1.05. Renasant Corporation has a 1-year low of $32.51 and a 1-year high of $45.32. The company’s 50-day moving average is $41.87 and its 200-day moving average is $41.82.
Renasant Corporation (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). The business had revenue of $123.43 million for the quarter, compared to the consensus estimate of $127.07 million. Renasant Corporation had a net margin of 20.44% and a return on equity of 8.57%. During the same period in the previous year, the company earned $0.59 earnings per share. On average, equities research analysts forecast that Renasant Corporation will post $2.27 EPS for the current year.
About Renasant Corporation
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.
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