Renasant (NASDAQ:RNST) Downgraded by StockNews.com

StockNews.com cut shares of Renasant (NASDAQ:RNST) from a hold rating to a sell rating in a report released on Friday morning.

Other analysts have also issued reports about the stock. 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. Truist Financial reduced their price target on shares of Renasant from $35.00 to $33.00 and set a hold rating for the company in a research report on Monday, April 1st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Renasant from $34.00 to $35.00 and gave the stock a market perform rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $33.00.

Renasant Price Performance

RNST stock opened at $29.76 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19. Renasant has a one year low of $22.99 and a one year high of $34.85. The firm has a market capitalization of $1.67 billion, a PE ratio of 9.10 and a beta of 1.03. The firm has a 50-day moving average of $30.47 and a two-hundred day moving average of $29.73.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.12. Renasant had a net margin of 15.94% and a return on equity of 7.98%. The company had revenue of $230.79 million during the quarter, compared to analyst estimates of $160.63 million. During the same period in the prior year, the firm earned $0.89 earnings per share. On average, analysts forecast that Renasant will post 2.63 earnings per share for the current year.

Renasant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, June 14th. Renasant’s payout ratio is presently 34.11%.

Hedge Funds Weigh In On Renasant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Renasant during the fourth quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Renasant during the fourth quarter valued at approximately $37,000. TFO Wealth Partners LLC grew its stake in shares of Renasant by 13,710.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,371 shares during the last quarter. Covestor Ltd grew its stake in shares of Renasant by 26.6% in the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 463 shares during the last quarter. Finally, Point72 Middle East FZE acquired a new stake in shares of Renasant in the fourth quarter worth $74,000. Institutional investors own 77.31% of the company’s stock.

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.