BidaskClub upgraded shares of Renasant (NASDAQ:RNST) from a sell rating to a hold rating in a report released on Saturday.
Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Renasant from a hold rating to a buy rating and set a $47.00 price target on the stock in a research report on Wednesday, January 10th. Hilliard Lyons upgraded shares of Renasant from a neutral rating to a buy rating in a research report on Friday. Hovde Group set a $47.00 price target on shares of Renasant and gave the stock a hold rating in a research report on Friday, January 19th. Sandler O’Neill restated a hold rating and issued a $45.00 price target on shares of Renasant in a research report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $45.00 price target on shares of Renasant in a research report on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $45.60.
Renasant (NASDAQ:RNST) opened at $41.85 on Friday. The firm has a market cap of $2,060.00, a price-to-earnings ratio of 21.14 and a beta of 1.03. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. Renasant has a fifty-two week low of $37.68 and a fifty-two week high of $45.31.
Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Renasant had a net margin of 18.19% and a return on equity of 8.45%. The company had revenue of $125.70 million for the quarter, compared to the consensus estimate of $124.55 million. sell-side analysts predict that Renasant will post 3.01 earnings per share for the current year.
In related news, EVP R Rick Hart sold 10,000 shares of Renasant stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $43.17, for a total value of $431,700.00. Following the sale, the executive vice president now directly owns 83,450 shares in the company, valued at approximately $3,602,536.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William Mark Williams sold 7,000 shares of Renasant stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $41.32, for a total transaction of $289,240.00. Following the completion of the sale, the executive vice president now owns 21,652 shares in the company, valued at $894,660.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,679 shares of company stock worth $1,362,610. Insiders own 3.86% of the company’s stock.
Large investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its position in Renasant by 13.3% in the 2nd quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 371 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Renasant by 7.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 264 shares during the last quarter. Highwater Wealth Management LLC bought a new stake in Renasant in the 3rd quarter valued at about $213,000. Jane Street Group LLC bought a new stake in Renasant in the 3rd quarter valued at about $217,000. Finally, Amalgamated Bank lifted its position in Renasant by 1.2% in the 2nd quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 65.28% of the company’s stock.
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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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