Renasant Co. (NASDAQ:RNST) Given Consensus Rating of “Moderate Buy” by Brokerages

Renasant Co. (NASDAQ:RNST) has received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $39.33.

Several analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a report on Friday, September 20th. Hovde Group downgraded shares of Renasant from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th.

Renasant Stock Up 0.1 %

Shares of NASDAQ RNST opened at $36.89 on Wednesday. The company has a 50 day simple moving average of $35.23 and a 200-day simple moving average of $33.19. The company has a market capitalization of $2.34 billion, a P/E ratio of 12.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. Renasant has a 1 year low of $27.98 and a 1 year high of $39.47.

Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Renasant had a net margin of 16.83% and a return on equity of 6.70%. The firm had revenue of $318.34 million during the quarter, compared to the consensus estimate of $184.73 million. During the same quarter last year, the firm earned $0.75 EPS. On average, equities research analysts predict that Renasant will post 2.65 earnings per share for the current year.

Renasant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Wednesday, December 18th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.88 annualized dividend and a yield of 2.39%. Renasant’s dividend payout ratio is presently 28.66%.

Insider Buying and Selling at Renasant

In other news, Director John Creekmore sold 3,000 shares of Renasant stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total transaction of $114,000.00. Following the completion of the sale, the director now directly owns 24,057 shares of the company’s stock, valued at approximately $914,166. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Renasant

Several institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its position in shares of Renasant by 3.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 9,560 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 300 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Renasant by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,300 shares of the financial services provider’s stock worth $864,000 after purchasing an additional 500 shares during the last quarter. KBC Group NV lifted its position in shares of Renasant by 32.0% during the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 596 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Renasant by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 11,126 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 734 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Renasant by 698.3% during the 2nd quarter. Quarry LP now owns 934 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 817 shares during the last quarter. 77.31% of the stock is 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.