Renasant Corp. (NASDAQ:RNST) is scheduled to post its Q316 quarterly earnings results on Tuesday, October 18th. Analysts expect Renasant Corp. to post earnings of $0.58 per share and revenue of $113.47 million for the quarter.
Renasant Corp. (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Renasant Corp. had a net margin of 18.32% and a return on equity of 8.53%. On average, analysts expect Renasant Corp. to post $2.22 EPS for the current fiscal year and $2.45 EPS for the next fiscal year.
Shares of Renasant Corp. (NASDAQ:RNST) opened at 32.92 on Friday. The stock has a market cap of $1.39 billion, a PE ratio of 16.58 and a beta of 0.98. The firm has a 50-day moving average of $34.15 and a 200 day moving average of $33.41. Renasant Corp. has a 52 week low of $29.49 and a 52 week high of $37.28.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 2.19%. Renasant Corp.’s payout ratio is 36.36%.
A number of brokerages have issued reports on RNST. Zacks Investment Research upgraded shares of Renasant Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 1st. Raymond James Financial Inc. lowered shares of Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 price objective on the stock. in a research note on Monday, September 12th. Finally, Jefferies Group reiterated a “buy” rating and issued a $39.00 price objective on shares of Renasant Corp. in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.20.
In related news, EVP R Rick Hart sold 4,000 shares of Renasant Corp. stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $33.15, for a total value of $132,600.00. Following the completion of the transaction, the executive vice president now owns 69,139 shares in the company, valued at $2,291,957.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fred F. Sharpe purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was purchased at an average price of $35.12 per share, with a total value of $35,120.00. The disclosure for this purchase can be found here. 5.18% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bridgeway Capital Management Inc. increased its stake in shares of Renasant Corp. by 56.7% in the second quarter. Bridgeway Capital Management Inc. now owns 185,500 shares of the financial services provider’s stock valued at $5,997,000 after buying an additional 67,100 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Renasant Corp. by 6.6% in the second quarter. Lord Abbett & CO. LLC now owns 927,809 shares of the financial services provider’s stock valued at $29,996,000 after buying an additional 57,800 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Renasant Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 1,484,637 shares of the financial services provider’s stock valued at $47,998,000 after buying an additional 56,046 shares in the last quarter. Brant Point Investment Management LLC bought a new stake in shares of Renasant Corp. during the second quarter valued at $1,759,000. Finally, Nuveen Asset Management LLC increased its stake in shares of Renasant Corp. by 19.1% in the second quarter. Nuveen Asset Management LLC now owns 259,533 shares of the financial services provider’s stock valued at $8,391,000 after buying an additional 41,685 shares in the last quarter. Institutional investors own 60.13% of the company’s stock.
Renasant Corp. Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.
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