Analysts Set Expectations for Renasant Co.’s FY2022 Earnings (NASDAQ:RNST)

Renasant Co. (NASDAQ:RNST – Get Rating) – Investment analysts at DA Davidson decreased their FY2022 earnings per share (EPS) estimates for shares of Renasant in a report issued on Wednesday, August 3rd. DA Davidson analyst K. Fitzsimmons now expects that the financial services provider will earn $2.96 per share for the year, down from their prior forecast of $2.97. The consensus estimate for Renasant’s current full-year earnings is $2.90 per share.

RNST has been the topic of a number of other research reports. Hovde Group upgraded Renasant from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Tuesday, June 21st. Truist Financial boosted their price target on Renasant from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, August 1st. Finally, Piper Sandler reduced their price target on Renasant to $32.50 in a research report on Monday, July 4th.

Renasant Stock Performance

Shares of NASDAQ RNST opened at $33.57 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $30.23 and a 200 day simple moving average of $32.59. Renasant has a one year low of $27.61 and a one year high of $40.79. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 12.53 and a beta of 1.13.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC increased its holdings in Renasant by 43.2% during the first quarter. Fisher Asset Management LLC now owns 19,215 shares of the financial services provider’s stock valued at $643,000 after buying an additional 5,793 shares during the period. Yousif Capital Management LLC purchased a new position in Renasant in the fourth quarter valued at $1,969,000. Westwood Holdings Group Inc. increased its holdings in Renasant by 27.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,766,111 shares of the financial services provider’s stock valued at $67,024,000 after buying an additional 377,642 shares in the last quarter. Pinebridge Investments L.P. purchased a new stake in shares of Renasant during the fourth quarter worth about $114,000. Finally, Keybank National Association OH increased its stake in shares of Renasant by 1.9% during the fourth quarter. Keybank National Association OH now owns 35,435 shares of the financial services provider’s stock worth $1,345,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 78.65% of the company’s stock.

Renasant Company Profile

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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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities.

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