Renasant (NASDAQ:RNST) Upgraded to Hold at StockNews.com

Renasant (NASDAQ:RNST) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research firms have also weighed in on RNST. Truist Financial dropped their price objective on shares of Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Stephens upped their price objective on shares of Renasant from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.00.

Renasant Stock Down 0.2 %

RNST stock opened at $29.85 on Friday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 12.13 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.90. The company’s 50 day simple moving average is $30.26 and its 200-day simple moving average is $29.90. Renasant has a 52-week low of $22.99 and a 52-week high of $34.85.

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 the consensus estimate of $0.63 by $0.02. The firm had revenue of $254.56 million for the quarter, compared to analyst estimates of $159.60 million. Renasant had a net margin of 14.67% and a return on equity of 7.44%. During the same quarter in the prior year, the business earned $0.82 EPS. As a group, equities research analysts anticipate that Renasant will post 2.63 EPS for the current year.

Institutional Trading of Renasant

Large investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund bought a new stake in Renasant in the third quarter worth approximately $875,000. Resolute Wealth Strategies LLC boosted its holdings in shares of Renasant by 0.6% during the 3rd quarter. Resolute Wealth Strategies LLC now owns 75,058 shares of the financial services provider’s stock worth $1,966,000 after buying an additional 435 shares during the period. Deutsche Bank AG boosted its holdings in shares of Renasant by 13.9% during the 3rd quarter. Deutsche Bank AG now owns 27,167 shares of the financial services provider’s stock worth $712,000 after buying an additional 3,317 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Renasant by 10.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 139,706 shares of the financial services provider’s stock worth $3,659,000 after buying an additional 12,741 shares during the period. Finally, Brookstone Capital Management bought a new stake in shares of Renasant during the 4th quarter worth $211,000. 77.31% of the stock is owned by institutional investors.

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.