Renasant Corp. (NASDAQ:RNST) – Analysts at FIG Partners decreased their Q1 2019 earnings estimates for shares of Renasant in a research note issued on Tuesday, October 23rd. FIG Partners analyst J. Rodis now forecasts that the financial services provider will post earnings of $0.76 per share for the quarter, down from their previous forecast of $0.78. FIG Partners also issued estimates for Renasant’s Q2 2019 earnings at $0.83 EPS and FY2019 earnings at $3.33 EPS.
Renasant (NASDAQ:RNST) last announced its earnings results on Monday, October 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. Renasant had a net margin of 20.84% and a return on equity of 9.37%. The firm had revenue of $138.90 million during the quarter, compared to the consensus estimate of $142.06 million. During the same quarter in the previous year, the company posted $0.53 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis.
Shares of RNST stock opened at $34.06 on Thursday. Renasant has a twelve month low of $32.01 and a twelve month high of $49.78. The stock has a market capitalization of $1.75 billion, a P/E ratio of 14.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.92.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sheets Smith Wealth Management increased its position in Renasant by 13.3% during the 2nd quarter. Sheets Smith Wealth Management now owns 9,851 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 1,159 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Renasant by 8.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,650 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 1,214 shares in the last quarter. MetLife Investment Advisors LLC increased its position in Renasant by 10.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 22,158 shares of the financial services provider’s stock worth $1,009,000 after purchasing an additional 2,071 shares in the last quarter. Russell Investments Group Ltd. increased its position in Renasant by 7.0% during the 1st quarter. Russell Investments Group Ltd. now owns 37,573 shares of the financial services provider’s stock worth $1,600,000 after purchasing an additional 2,453 shares in the last quarter. Finally, First Quadrant L P CA acquired a new stake in Renasant during the 3rd quarter worth approximately $124,000. 67.72% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Michael D. Shmerling acquired 1,000 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was bought at an average price of $45.00 per share, with a total value of $45,000.00. Following the purchase, the director now directly owns 159,357 shares in the company, valued at approximately $7,171,065. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.41% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Thursday, September 13th. Renasant’s dividend payout ratio is currently 33.06%.
Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.
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