Renasant Co. (NASDAQ:RNST) Receives Consensus Rating of “Hold” from Analysts

Renasant Co. (NASDAQ:RNST) has received an average rating of “Hold” from the four research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $33.00.

A number of analysts have recently weighed in on the company. Truist Financial dropped their price objective on Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Stephens raised their price target on Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Finally, Keefe, Bruyette & Woods raised their price target on Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th.

Hedge Funds Weigh In On Renasant

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Waverly Advisors LLC lifted its position in Renasant by 24.6% during the first quarter. Waverly Advisors LLC now owns 34,293 shares of the financial services provider’s stock valued at $1,074,000 after buying an additional 6,771 shares during the period. Public Employees Retirement System of Ohio lifted its position in Renasant by 1.2% during the first quarter. Public Employees Retirement System of Ohio now owns 119,696 shares of the financial services provider’s stock valued at $3,749,000 after buying an additional 1,364 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Renasant by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 53,621 shares of the financial services provider’s stock valued at $1,680,000 after buying an additional 1,999 shares during the period. Quadrature Capital Ltd purchased a new position in Renasant during the first quarter valued at $208,000. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Renasant by 13.0% during the first quarter. Westwood Holdings Group Inc. now owns 2,151,074 shares of the financial services provider’s stock valued at $67,372,000 after acquiring an additional 247,354 shares in the last quarter. Hedge funds and other institutional investors own 77.31% of the company’s stock.

Renasant Stock Performance

NASDAQ:RNST opened at $30.29 on Friday. The firm has a market cap of $1.71 billion, a PE ratio of 12.31 and a beta of 1.04. Renasant has a fifty-two week low of $22.99 and a fifty-two week high of $34.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. The business has a 50 day moving average price of $30.04 and a 200-day moving average price of $30.61.

Renasant (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $254.56 million during the quarter, compared to analyst estimates of $159.60 million. Renasant had a return on equity of 7.44% and a net margin of 14.67%. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities research analysts predict that Renasant will post 2.62 earnings per share for the current year.

Renasant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, June 14th. Renasant’s dividend payout ratio is currently 35.77%.

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.