Renasant (NASDAQ:RNST) Upgraded at StockNews.com

Renasant (NASDAQ:RNST) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

RNST has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their target price on Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th. Stephens increased their target price on Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Finally, Truist Financial reduced their target price on Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.00.

Renasant Stock Performance

NASDAQ:RNST opened at $29.85 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.93. The stock’s fifty day moving average is $30.26 and its 200 day moving average is $29.95. Renasant has a fifty-two week low of $22.99 and a fifty-two week high of $34.85. The firm has a market capitalization of $1.68 billion, a PE ratio of 12.13 and a beta of 1.03.

Renasant (NASDAQ:RNST) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Renasant had a return on equity of 7.44% and a net margin of 14.67%. The business had revenue of $254.56 million for the quarter, compared to analyst estimates of $159.60 million. During the same quarter last year, the firm posted $0.82 earnings per share. On average, sell-side analysts anticipate that Renasant will post 2.62 earnings per share for the current year.

Hedge Funds Weigh In On Renasant

A number of hedge funds and other institutional investors have recently made changes to their positions in RNST. GAMMA Investing LLC bought a new position in shares of Renasant during the 4th quarter worth $25,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Renasant during the fourth quarter valued at about $37,000. TFO Wealth Partners LLC boosted its position in Renasant by 13,710.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,371 shares in the last quarter. Covestor Ltd boosted its position in Renasant by 26.6% during the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 463 shares in the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in Renasant during the fourth quarter valued at about $113,000. Institutional investors own 77.31% of the company’s stock.

Renasant Company Profile

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.