Equities analysts forecast that Renasant Corp. (NASDAQ:RNST) will post sales of $148.45 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Renasant’s earnings. The highest sales estimate is $148.50 million and the lowest is $148.40 million. Renasant reported sales of $123.19 million during the same quarter last year, which indicates a positive year over year growth rate of 20.5%. The firm is expected to issue its next earnings report after the market closes on Tuesday, April 23rd.
On average, analysts expect that Renasant will report full year sales of $609.65 million for the current year, with estimates ranging from $605.50 million to $613.80 million. For the next financial year, analysts expect that the firm will report sales of $634.00 million, with estimates ranging from $625.50 million to $642.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Renasant.
Renasant (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The company had revenue of $151.83 million during the quarter, compared to analyst estimates of $152.15 million. Renasant had a return on equity of 8.85% and a net margin of 24.19%. During the same quarter last year, the business posted $0.33 earnings per share.
Several research analysts recently commented on the company. TheStreet upgraded Renasant from a “c+” rating to a “b-” rating in a research report on Wednesday, February 20th. BidaskClub raised shares of Renasant from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research raised shares of Renasant from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Hovde Group reissued a “market perform” rating and issued a $38.00 price objective (up previously from $34.00) on shares of Renasant in a research note on Monday, January 28th. Finally, Stephens set a $36.00 price objective on shares of Renasant and gave the stock a “hold” rating in a research note on Tuesday, January 22nd. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $37.00.
RNST opened at $35.10 on Friday. The stock has a market capitalization of $2.01 billion, a P/E ratio of 11.70 and a beta of 1.22. Renasant has a 12 month low of $28.02 and a 12 month high of $49.78. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 0.13.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.39%. The ex-dividend date was Wednesday, March 20th. Renasant’s payout ratio is currently 28.00%.
In other Renasant news, EVP James W. Gray sold 2,504 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $38.33, for a total value of $95,978.32. Following the completion of the sale, the executive vice president now owns 58,072 shares of the company’s stock, valued at $2,225,899.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.64% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of Renasant by 16.3% in the 4th quarter. Bank of Montreal Can now owns 2,478 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 348 shares during the last quarter. Federated Investors Inc. PA lifted its holdings in Renasant by 213.7% during the 3rd quarter. Federated Investors Inc. PA now owns 734 shares of the financial services provider’s stock worth $30,000 after buying an additional 500 shares in the last quarter. Strs Ohio lifted its holdings in Renasant by 200.0% during the 4th quarter. Strs Ohio now owns 900 shares of the financial services provider’s stock worth $27,000 after buying an additional 600 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Renasant by 4.0% during the 4th quarter. SG Americas Securities LLC now owns 19,487 shares of the financial services provider’s stock worth $588,000 after buying an additional 749 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Renasant by 1.0% during the 3rd quarter. Teachers Advisors LLC now owns 89,222 shares of the financial services provider’s stock worth $3,677,000 after buying an additional 855 shares in the last quarter. 61.10% of the stock is currently owned by hedge funds and other institutional investors.
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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