Equities analysts expect Renasant Co. (NASDAQ:RNST) to announce sales of $159.18 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Renasant’s earnings, with estimates ranging from $154.90 million to $164.10 million. Renasant posted sales of $144.17 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.4%. The business is expected to announce its next earnings results after the market closes on Tuesday, April 27th.
According to Zacks, analysts expect that Renasant will report full year sales of $627.18 million for the current fiscal year, with estimates ranging from $620.70 million to $640.60 million. For the next fiscal year, analysts forecast that the firm will post sales of $610.58 million, with estimates ranging from $580.00 million to $634.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Renasant.
Renasant (NASDAQ:RNST) last posted its earnings results on Monday, January 25th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. Renasant had a net margin of 12.63% and a return on equity of 5.15%. The firm had revenue of $170.99 million during the quarter, compared to analyst estimates of $159.32 million. During the same period last year, the firm posted $0.67 earnings per share.
Shares of RNST stock traded down $0.02 on Monday, reaching $40.70. The company’s stock had a trading volume of 4,493 shares, compared to its average volume of 321,323. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 25.45 and a beta of 1.29. The stock’s fifty day simple moving average is $42.60 and its 200-day simple moving average is $35.80. Renasant has a 1 year low of $19.38 and a 1 year high of $46.97. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Wednesday, March 17th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.16%. Renasant’s dividend payout ratio is presently 30.24%.
In other news, insider Edward Robinson Mcgraw sold 15,000 shares of Renasant stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $39.33, for a total transaction of $589,950.00. Also, Director John Foy sold 7,500 shares of Renasant stock in a transaction on Friday, March 5th. The stock was sold at an average price of $41.91, for a total value of $314,325.00. Over the last 90 days, insiders sold 53,630 shares of company stock valued at $2,140,990. 3.99% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in RNST. Great West Life Assurance Co. Can lifted its position in shares of Renasant by 365.3% during the third quarter. Great West Life Assurance Co. Can now owns 17,040 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 13,378 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Renasant during the first quarter worth $200,000. Handelsbanken Fonder AB bought a new stake in shares of Renasant during the fourth quarter worth $223,000. Smith Shellnut Wilson LLC ADV bought a new stake in shares of Renasant during the first quarter worth $245,000. Finally, Highland Capital Management LLC bought a new stake in shares of Renasant in the fourth quarter valued at about $247,000. Institutional investors and hedge funds own 71.23% of the company’s stock.
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 accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities.
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