Renasant (RNST) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Renasant (NASDAQ:RNST) from a strong sell rating to a sell rating in a report released on Tuesday.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Renasant from a sell rating to a hold rating in a research report on Wednesday, September 19th. Stephens reaffirmed a hold rating and set a $50.00 price objective on shares of Renasant in a research report on Monday, August 20th. Raymond James cut shares of Renasant from an outperform rating to a market perform rating in a research report on Tuesday, July 10th. Finally, ValuEngine cut shares of Renasant from a hold rating to a sell rating in a research report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Renasant currently has an average rating of Hold and a consensus target price of $47.20.

NASDAQ:RNST opened at $35.02 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.92. The company has a market cap of $1.68 billion, a P/E ratio of 14.47 and a beta of 0.87. Renasant has a fifty-two week low of $32.01 and a fifty-two week high of $49.78.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. The firm had revenue of $138.90 million during the quarter, compared to analysts’ expectations of $142.06 million. Renasant had a net margin of 20.84% and a return on equity of 9.37%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. As a group, equities analysts forecast that Renasant will post 3.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Tuesday, December 18th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, December 17th. This is a boost from Renasant’s previous quarterly dividend of $0.20. Renasant’s dividend payout ratio (DPR) is currently 33.06%.

In other Renasant news, Director Michael D. Shmerling purchased 1,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 159,357 shares of the company’s stock, valued at approximately $7,171,065. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.41% of the company’s stock.

Hedge funds have recently modified their holdings of the business. First Quadrant L P CA purchased a new position in Renasant in the 3rd quarter valued at approximately $124,000. Adviser Investments LLC purchased a new position in Renasant in the 2nd quarter valued at approximately $147,000. Zeke Capital Advisors LLC purchased a new position in Renasant in the 2nd quarter valued at approximately $211,000. Green Square Capital LLC purchased a new position in Renasant in the 2nd quarter valued at approximately $221,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Renasant in the 1st quarter valued at approximately $270,000. 67.72% of the stock is owned by institutional investors.

About Renasant

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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Analyst Recommendations for Renasant (NASDAQ:RNST)

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