Renasant Co. (NASDAQ:RNST) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Renasant Co. (NASDAQ:RNST) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $41.6667.

Several research analysts recently commented on the company. Raymond James Financial reissued a “strong-buy” rating on shares of Renasant in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods dropped their price objective on Renasant from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Finally, Hovde Group lifted their target price on Renasant from $35.00 to $39.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd.

Renasant Price Performance

Shares of NASDAQ RNST opened at $37.58 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96. Renasant has a fifty-two week low of $26.97 and a fifty-two week high of $39.63. The company has a market cap of $3.57 billion, a PE ratio of 11.49 and a beta of 0.94. The business has a 50-day simple moving average of $36.80 and a two-hundred day simple moving average of $35.09.

Hedge Funds Weigh In On Renasant

Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in Renasant in the first quarter worth approximately $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Renasant in the second quarter worth $37,000. Mascagni Wealth Management Inc. acquired a new position in Renasant during the fourth quarter worth $44,000. CWM LLC lifted its stake in shares of Renasant by 42.7% in the first quarter. CWM LLC now owns 1,330 shares of the financial services provider’s stock valued at $45,000 after buying an additional 398 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Renasant by 49.5% during the second quarter. GAMMA Investing LLC now owns 1,489 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 493 shares during the period. 77.31% of the stock is owned by institutional investors.

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.