The Renasant Corp. (RNST) Receives Consensus Recommendation of “Hold” from Analysts

The Renasant Corp. (RNST) Receives Consensus Recommendation of “Hold” from Analysts

Renasant Corp. (NASDAQ:RNST) has received a consensus recommendation of “Hold” from the five brokerages that are covering the company. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $38.75.

RNST has been the subject of several research reports. Zacks Investment Research upgraded shares of Renasant Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Jefferies Group LLC cut shares of Renasant Corp. from a “buy” rating to a “hold” rating and set a $41.00 price target for the company. in a report on Monday, November 28th. Finally, Keefe, Bruyette & Woods cut shares of Renasant Corp. from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $37.00 to $43.00 in a report on Tuesday, November 29th.

In related news, EVP Stuart Johnson sold 4,339 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $40.81, for a total transaction of $177,074.59. Following the completion of the sale, the executive vice president now directly owns 8,084 shares in the company, valued at $329,908.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael D. Ross sold 32,735 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $40.77, for a total transaction of $1,334,605.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,074 shares of company stock valued at $1,721,881. 5.18% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of RNST. Metropolitan Life Insurance Co. NY boosted its stake in Renasant Corp. by 8.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 29,711 shares of the financial services provider’s stock worth $961,000 after buying an additional 2,197 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Renasant Corp. by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 118,832 shares of the financial services provider’s stock worth $3,842,000 after buying an additional 1,722 shares during the period. Royal Bank of Canada boosted its stake in Renasant Corp. by 1,535.2% in the second quarter. Royal Bank of Canada now owns 35,157 shares of the financial services provider’s stock worth $1,137,000 after buying an additional 33,007 shares during the period. Nationwide Fund Advisors boosted its stake in Renasant Corp. by 3.1% in the third quarter. Nationwide Fund Advisors now owns 32,864 shares of the financial services provider’s stock worth $1,105,000 after buying an additional 983 shares during the period. Finally, Monarch Partners Asset Management LLC boosted its stake in Renasant Corp. by 24.6% in the third quarter. Monarch Partners Asset Management LLC now owns 205,390 shares of the financial services provider’s stock worth $6,907,000 after buying an additional 40,580 shares during the period. Institutional investors and hedge funds own 59.29% of the company’s stock.

Renasant Corp. (NASDAQ:RNST) traded up 0.05% during midday trading on Monday, reaching $41.22. 72,747 shares of the company were exchanged. Renasant Corp. has a one year low of $30.21 and a one year high of $44.65. The firm’s 50-day moving average is $40.39 and its 200-day moving average is $37.85. The firm has a market cap of $1.83 billion, a P/E ratio of 19.00 and a beta of 1.02.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Wednesday, March 15th. Renasant Corp.’s dividend payout ratio is currently 33.33%.

Renasant Corp. Company Profile

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.

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