Renasant (NASDAQ:RNST) Rating Reiterated by Keefe, Bruyette & Woods

Renasant (NASDAQ:RNST)‘s stock had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $34.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 13.26% from the stock’s current price.

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of Renasant from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Truist Financial cut their price target on shares of Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Renasant presently has a consensus rating of “Hold” and an average price target of $34.25.

Renasant Stock Down 1.8 %

Shares of RNST opened at $30.02 on Wednesday. Renasant has a 52-week low of $22.99 and a 52-week high of $34.85. The company has a market capitalization of $1.69 billion, a PE ratio of 12.20 and a beta of 1.03. The stock has a fifty day simple moving average of $29.81 and a two-hundred day simple moving average of $30.78. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18.

Renasant (NASDAQ:RNST) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Renasant had a return on equity of 7.44% and a net margin of 14.67%. The business had revenue of $254.56 million during the quarter, compared to the consensus estimate of $159.60 million. During the same period last year, the company earned $0.82 EPS. As a group, equities analysts forecast that Renasant will post 2.62 EPS for the current year.

Hedge Funds Weigh In On Renasant

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Renasant during the 4th quarter valued at about $13,469,000. Westwood Holdings Group Inc. boosted its position in Renasant by 13.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,151,074 shares of the financial services provider’s stock valued at $67,372,000 after purchasing an additional 247,354 shares during the period. Edgestream Partners L.P. acquired a new position in Renasant during the 1st quarter valued at approximately $4,124,000. Hsbc Holdings PLC acquired a new position in Renasant during the 4th quarter worth $3,883,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Renasant by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,441 shares of the financial services provider’s stock worth $25,443,000 after buying an additional 50,084 shares in the last quarter. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.