Renasant Corp. (NASDAQ:RNST) was downgraded by research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday.
A number of other equities analysts have also weighed in on RNST. Zacks Investment Research upgraded Renasant Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Group cut Renasant Corp. from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Raymond James Financial Inc. cut Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 target price on the stock. in a research report on Monday, September 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $35.20.
Shares of Renasant Corp. (NASDAQ:RNST) opened at 40.34 on Tuesday. Renasant Corp. has a 12 month low of $29.49 and a 12 month high of $41.81. The stock has a market capitalization of $1.70 billion, a P/E ratio of 18.92 and a beta of 0.94. The firm’s 50-day moving average price is $35.55 and its 200-day moving average price is $34.02.
Renasant Corp. (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.59 earnings per share for the quarter, beating 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 last year, the company posted $0.53 earnings per share. On average, equities research analysts forecast that Renasant Corp. will post $2.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Wednesday, December 14th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.77%. The ex-dividend date is Monday, December 12th. Renasant Corp.’s payout ratio is 33.80%.
In related 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 value of $197,500.00. Following the sale, the executive vice president now directly owns 14,214 shares in the company, valued at approximately $561,453. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fred F. Sharpe acquired 2,000 shares of the stock in a transaction that occurred on Friday, October 21st. The stock was purchased at an average price of $33.70 per share, for a total transaction of $67,400.00. The disclosure for this purchase can be found here. 5.18% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of RNST. Victory Capital Management Inc. boosted its stake in Renasant Corp. by 3,741.7% in the third quarter. Victory Capital Management Inc. now owns 595,533 shares of the financial services provider’s stock valued at $20,028,000 after buying an additional 580,031 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Renasant Corp. during the third quarter valued at $15,152,000. Peregrine Capital Management LLC bought a new position in shares of Renasant Corp. during the third quarter valued at $10,426,000. State Street Corp boosted its position in shares of Renasant Corp. by 24.0% in the first quarter. State Street Corp now owns 782,398 shares of the financial services provider’s stock valued at $25,747,000 after buying an additional 151,512 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in shares of Renasant Corp. during the second quarter valued at $3,180,000. Institutional investors own 62.76% of the company’s stock.
About Renasant Corp.