BidaskClub upgraded shares of Renasant (NASDAQ:RNST) from a strong sell rating to a sell rating in a research report report published on Monday, January 21st.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Renasant from a sell rating to a hold rating in a report on Wednesday, January 9th. Stephens reaffirmed a hold rating and issued a $36.00 price objective on shares of Renasant in a report on Wednesday, December 19th. ValuEngine cut shares of Renasant from a sell rating to a strong sell rating in a report on Wednesday, October 24th. Finally, TheStreet cut shares of Renasant from a b- rating to a c+ rating in a report on Tuesday, December 11th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Renasant currently has a consensus rating of Hold and an average price target of $41.00.
NASDAQ RNST traded up $1.26 on Monday, reaching $37.56. 544,425 shares of the company’s stock traded hands, compared to its average volume of 202,325. The company has a market capitalization of $2.21 billion, a PE ratio of 12.52 and a beta of 1.20. Renasant has a fifty-two week low of $28.02 and a fifty-two week high of $49.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.91.
Renasant (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Renasant had a net margin of 24.19% and a return on equity of 9.30%. The company had revenue of $151.83 million during the quarter, compared to analysts’ expectations of $152.15 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. Research analysts expect that Renasant will post 3.21 earnings per share for the current year.
In related news, EVP Bartow Morgan, Jr. bought 16,227 shares of the business’s stock in a transaction dated Thursday, December 6th. The stock was acquired at an average price of $32.96 per share, with a total value of $534,841.92. Following the completion of the purchase, the executive vice president now directly owns 346,522 shares of the company’s stock, valued at $11,421,365.12. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bartow Morgan, Jr. bought 25,000 shares of the business’s stock in a transaction dated Monday, December 10th. The shares were bought at an average cost of $32.95 per share, with a total value of $823,750.00. Following the purchase, the insider now directly owns 346,522 shares of the company’s stock, valued at $11,417,899.90. The disclosure for this purchase can be found here. Insiders have bought 41,238 shares of company stock valued at $1,358,985 in the last three months. Corporate insiders own 3.41% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC increased its stake in shares of Renasant by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 34,380 shares of the financial services provider’s stock worth $1,417,000 after purchasing an additional 12,222 shares in the last quarter. Vanguard Group Inc. grew its stake in Renasant by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,098,733 shares of the financial services provider’s stock valued at $168,909,000 after acquiring an additional 54,183 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Renasant during the 3rd quarter valued at about $44,809,000. Assenagon Asset Management S.A. purchased a new stake in Renasant during the 3rd quarter valued at about $2,683,000. Finally, Thrivent Financial for Lutherans grew its stake in Renasant by 8.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 33,779 shares of the financial services provider’s stock valued at $1,392,000 after acquiring an additional 2,715 shares in the last quarter. 58.90% of the stock is owned by institutional investors and hedge funds.
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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