Renasant (RNST) Stock Rating Reaffirmed by Sandler O’Neill

Sandler O’Neill reissued their hold rating on shares of Renasant (NASDAQ:RNST) in a research note published on Thursday morning. They currently have a $45.00 price objective on the financial services provider’s stock.

RNST has been the subject of a number of other research reports. Keefe, Bruyette & Woods reissued a hold rating and issued a $45.00 price objective on shares of Renasant in a research report on Friday, December 22nd. BidaskClub lowered shares of Renasant from a hold rating to a sell rating in a research report on Friday, December 29th. ValuEngine downgraded shares of Renasant from a buy rating to a hold rating in a report on Thursday, November 9th. Finally, Zacks Investment Research downgraded shares of Renasant from a buy rating to a hold rating in a report on Saturday, October 21st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $44.75.

Renasant (NASDAQ RNST) traded up $0.02 during trading hours on Thursday, hitting $41.76. 142,254 shares of the stock were exchanged, compared to its average volume of 160,940. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2,058.63, a price-to-earnings ratio of 19.07 and a beta of 1.01. Renasant has a twelve month low of $37.68 and a twelve month high of $45.31.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). The firm had revenue of $123.43 million during the quarter, compared to analyst estimates of $127.07 million. Renasant had a net margin of 20.44% and a return on equity of 8.15%. During the same period in the prior year, the firm earned $0.59 EPS. equities analysts expect that Renasant will post 2.31 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.82%. This is an increase from Renasant’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, December 14th. Renasant’s payout ratio is presently 34.70%.

In related news, EVP Stuart Johnson sold 2,689 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $41.29, for a total value of $111,028.81. Following the completion of the sale, the executive vice president now directly owns 54,170 shares in the company, valued at $2,236,679.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William Mark Williams sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $41.32, for a total transaction of $289,240.00. Following the sale, the executive vice president now owns 21,652 shares of the company’s stock, valued at $894,660.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,729 shares of company stock valued at $1,356,863. 3.86% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. grew its stake in Renasant by 13.3% during 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 during the period. Ameritas Investment Partners Inc. grew its stake in Renasant by 7.5% during 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 during the period. Highwater Wealth Management LLC purchased a new stake in Renasant during the third quarter worth approximately $213,000. Jane Street Group LLC purchased a new stake in Renasant during the third quarter worth approximately $217,000. Finally, Amalgamated Bank grew its stake in Renasant by 1.2% during the second quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock worth $237,000 after buying an additional 65 shares during the period. Institutional investors own 64.66% of the company’s stock.

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Renasant Company Profile

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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