Trading Report: Today: Renasant Corp. (RNST) Lowered by Jefferies Group to “Hold”

Today: Renasant Corp. (RNST) Lowered by Jefferies Group to “Hold”

Renasant Corp. (NASDAQ:RNST) was downgraded by stock analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised Renasant Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Raymond James Financial Inc. lowered Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 price objective for the company. in a report on Monday, September 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Renasant Corp. has a consensus rating of “Hold” and a consensus price target of $35.20.

Renasant Corp. (NASDAQ:RNST) traded down 1.31% on Monday, hitting $40.64. 52,871 shares of the stock were exchanged. The company has a 50-day moving average price of $35.37 and a 200-day moving average price of $33.95. The firm has a market cap of $1.71 billion, a PE ratio of 19.06 and a beta of 0.94. Renasant Corp. has a 52-week low of $29.49 and a 52-week high of $41.81.

Renasant Corp. (NASDAQ:RNST) last released its earnings results on Tuesday, October 18th. The financial services provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. Renasant Corp. had a return on equity of 8.64% and a net margin of 19.24%. During the same quarter in the previous year, the business posted $0.53 EPS. On average, equities research analysts anticipate that Renasant Corp. will post $2.19 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Monday, December 12th. Renasant Corp.’s payout ratio is presently 33.80%.

In other Renasant Corp. news, EVP James W. Gray sold 5,000 shares of Renasant Corp. stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $39.50, for a total transaction of $197,500.00. Following the completion of the transaction, the executive vice president now owns 14,214 shares of the company’s stock, valued at approximately $561,453. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Albert J. Dale III sold 2,031 shares of Renasant Corp. stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $39.42, for a total value of $80,062.02. Following the sale, the director now owns 24,369 shares of the company’s stock, valued at approximately $960,625.98. The disclosure for this sale can be found here. Company insiders own 5.18% of the company’s stock.

Several hedge funds have recently modified their holdings of RNST. Dimensional Fund Advisors LP increased its stake in shares of Renasant Corp. by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,419,967 shares of the financial services provider’s stock worth $78,236,000 after buying an additional 13,201 shares during the period. Vanguard Group Inc. increased its stake in shares of Renasant Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 1,484,637 shares of the financial services provider’s stock worth $47,998,000 after buying an additional 56,046 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Renasant Corp. by 9.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,145,158 shares of the financial services provider’s stock worth $38,512,000 after buying an additional 97,943 shares during the period. Northern Trust Corp increased its stake in shares of Renasant Corp. by 3.4% in the third quarter. Northern Trust Corp now owns 1,065,044 shares of the financial services provider’s stock worth $35,817,000 after buying an additional 34,736 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Renasant Corp. by 8.7% in the third quarter. BlackRock Fund Advisors now owns 1,060,605 shares of the financial services provider’s stock worth $35,668,000 after buying an additional 84,474 shares during the period. Hedge funds and other institutional investors own 62.76% of the company’s stock.

About Renasant Corp.

Related posts

Leave a Comment