Renasant (RNST) Set to Announce Quarterly Earnings on Tuesday

Renasant (NASDAQ:RNST) will issue its quarterly earnings data after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.63 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Renasant (NASDAQ:RNST) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.64 by $0.12. The firm had revenue of $230.79 million for the quarter, compared to the consensus estimate of $160.63 million. Renasant had a return on equity of 7.98% and a net margin of 15.94%. During the same period in the previous year, the business earned $0.89 EPS. On average, analysts expect Renasant to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Renasant Stock Up 3.6 %

Shares of NASDAQ:RNST opened at $29.80 on Friday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.91 and a quick ratio of 0.90. The business’s 50-day moving average is $30.43 and its 200-day moving average is $29.75. Renasant has a 1 year low of $22.99 and a 1 year high of $34.85.

Renasant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, June 14th. Renasant’s dividend payout ratio is 34.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RNST shares. Truist Financial dropped their price objective on Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Keefe, Bruyette & Woods boosted their price objective on Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. Stephens boosted their price objective on Renasant from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, StockNews.com downgraded Renasant from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, Renasant presently has a consensus rating of “Hold” and an average price target of $33.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RNST. Point72 Middle East FZE acquired a new position in Renasant during the 4th quarter worth approximately $74,000. Tower Research Capital LLC TRC raised its stake in shares of Renasant by 79.7% in the third quarter. Tower Research Capital LLC TRC now owns 3,623 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 1,607 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Renasant by 486.8% in the second quarter. Osaic Holdings Inc. now owns 7,364 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 6,109 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Renasant in the third quarter worth approximately $202,000. Finally, Creative Planning purchased a new stake in shares of Renasant in the fourth quarter worth approximately $204,000. 77.31% of the stock is owned by institutional investors and hedge funds.

About Renasant

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.