Renasant Co. (NASDAQ:RNST) Receives $39.33 Consensus PT from Brokerages

Shares of Renasant Co. (NASDAQ:RNST - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $39.33.

A number of brokerages have recently issued reports on RNST. Stephens raised Renasant from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $34.00 to $41.00 in a report on Wednesday, July 31st. Piper Sandler raised shares of Renasant from a "neutral" rating to an "overweight" rating and raised their price target for the company from $34.00 to $40.00 in a report on Monday, August 5th. Raymond James upgraded shares of Renasant from a "market perform" rating to an "outperform" rating and set a $39.00 price target for the company in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods upgraded shares of Renasant from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $36.00 to $40.00 in a research report on Friday, August 2nd. Finally, Hovde Group upgraded shares of Renasant from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $38.00 to $39.00 in a report on Monday, August 5th.

Hedge Funds Weigh In On Renasant

A number of institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in shares of Renasant by 4.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 830,687 shares of the financial services provider's stock valued at $27,978,000 after acquiring an additional 38,036 shares during the period. Vanguard Group Inc. increased its stake in shares of Renasant by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider's stock worth $216,121,000 after purchasing an additional 16,417 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Renasant by 74.7% during the 1st quarter. BNP Paribas Financial Markets now owns 41,701 shares of the financial services provider's stock valued at $1,306,000 after purchasing an additional 17,836 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Renasant by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,135 shares of the financial services provider's stock valued at $1,539,000 after buying an additional 637 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Renasant by 22.2% in the 1st quarter. Empowered Funds LLC now owns 168,469 shares of the financial services provider's stock worth $5,276,000 after buying an additional 30,630 shares during the period. 77.31% of the stock is owned by institutional investors.

Renasant Stock Up 0.2 %

RNST stock traded up $0.08 during trading on Tuesday, hitting $32.47. 453,720 shares of the stock traded hands, compared to its average volume of 395,168. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 12.30 and a beta of 1.02. Renasant has a 1 year low of $22.99 and a 1 year high of $37.40. The firm's 50 day moving average is $32.94 and its two-hundred day moving average is $31.63.

Renasant (NASDAQ:RNST - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. The business had revenue of $163.79 million for the quarter, compared to analysts' expectations of $166.05 million. Renasant had a return on equity of 6.98% and a net margin of 15.04%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 EPS. On average, sell-side analysts anticipate that Renasant will post 2.53 EPS for the current year.

Renasant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.71%. Renasant's dividend payout ratio is currently 33.33%.

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.