Renasant (NASDAQ:RNST) Cut to Sell at StockNews.com

StockNews.com lowered shares of Renasant (NASDAQ:RNSTFree Report) from a hold rating to a sell rating in a research report sent to investors on Friday.

RNST has been the subject of several other reports. Stephens raised their price objective on shares of Renasant from $36.00 to $37.00 and gave the stock an equal weight rating in a report on Tuesday, January 30th. TheStreet upgraded shares of Renasant from a c+ rating to a b- rating in a report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Renasant from $34.00 to $35.00 and gave the stock a market perform rating in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $31.50.

Check Out Our Latest Analysis on RNST

Renasant Stock Performance

Renasant stock opened at $31.32 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $31.20 and a 200-day moving average of $29.38. The firm has a market cap of $1.76 billion, a P/E ratio of 12.14 and a beta of 1.03. Renasant has a 1-year low of $22.99 and a 1-year high of $34.85.

Renasant (NASDAQ:RNSTGet Free Report) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. Renasant had a net margin of 15.94% and a return on equity of 7.98%. The company had revenue of $230.79 million during the quarter, compared to analyst estimates of $160.63 million. During the same period in the prior year, the business posted $0.89 earnings per share. Sell-side analysts expect that Renasant will post 2.56 EPS for the current year.

Renasant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.81%. Renasant’s payout ratio is 34.11%.

Institutional Investors Weigh In On Renasant

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Renasant by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider’s stock valued at $216,121,000 after acquiring an additional 16,417 shares in the last quarter. Victory Capital Management Inc. raised its stake in Renasant by 89.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,535,641 shares of the financial services provider’s stock worth $118,788,000 after acquiring an additional 2,140,613 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Renasant by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,913,033 shares of the financial services provider’s stock worth $131,793,000 after purchasing an additional 34,897 shares during the period. State Street Corp boosted its position in shares of Renasant by 10.8% in the first quarter. State Street Corp now owns 2,908,644 shares of the financial services provider’s stock worth $97,294,000 after purchasing an additional 282,738 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Renasant by 4.2% in the second quarter. Geode Capital Management LLC now owns 1,142,178 shares of the financial services provider’s stock worth $29,845,000 after purchasing an additional 46,172 shares during the period. Institutional investors own 77.31% of the company’s stock.

Renasant Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Renasant (NASDAQ:RNST)

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