Renasant (NASDAQ:RNST) released its quarterly earnings results on Tuesday. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02, Bloomberg Earnings reports. The company had revenue of $124.76 million during the quarter, compared to analysts’ expectations of $124.21 million. Renasant had a return on equity of 8.64% and a net margin of 19.29%. Renasant’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS.
NASDAQ:RNST opened at $46.49 on Thursday. Renasant has a 12 month low of $37.68 and a 12 month high of $46.95. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.14. The company has a market cap of $2,293.81, a price-to-earnings ratio of 18.07 and a beta of 1.00.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 30th. Shareholders of record on Saturday, June 16th will be paid a dividend of $0.20 per share. This is a positive change from Renasant’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, June 14th. Renasant’s payout ratio is 31.40%.
A number of equities analysts recently weighed in on RNST shares. BidaskClub raised Renasant from a “hold” rating to a “buy” rating in a report on Friday, March 9th. ValuEngine raised Renasant from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Hilliard Lyons raised Renasant from a “neutral” rating to a “buy” rating in a report on Friday, February 9th. Zacks Investment Research raised Renasant from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday, January 10th. Finally, Sandler O’Neill raised Renasant from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Renasant presently has an average rating of “Buy” and an average target price of $46.00.
In other Renasant news, EVP James W. Gray sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $44.04, for a total transaction of $220,200.00. Following the completion of the sale, the executive vice president now directly owns 50,003 shares in the company, valued at approximately $2,202,132.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP R Rick Hart sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $43.17, for a total value of $431,700.00. Following the sale, the executive vice president now owns 83,450 shares of the company’s stock, valued at $3,602,536.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,948 shares of company stock valued at $1,048,833. 3.41% of the stock is owned by company insiders.
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Renasant Company Profile
Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.
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