Renasant Corporation (RNST) Receives $41.67 Average PT from Brokerages
Shares of Renasant Corporation (NASDAQ:RNST) have been given an average rating of “Hold” by the six analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $41.67.
A number of brokerages recently commented on RNST. Jefferies Group LLC restated a “hold” rating and set a $44.00 price objective on shares of Renasant Corporation in a research note on Friday, July 14th. Zacks Investment Research upgraded Renasant Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub downgraded Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods set a $43.00 price objective on Renasant Corporation and gave the stock a “hold” rating in a research note on Saturday, May 27th. Finally, ValuEngine upgraded Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th.
Shares of Renasant Corporation (NASDAQ RNST) traded down 0.71% during midday trading on Friday, hitting $39.38. The company had a trading volume of 33,281 shares. Renasant Corporation has a 12 month low of $32.51 and a 12 month high of $45.31. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 17.76 and a beta of 1.04. The stock’s 50-day moving average price is $42.21 and its 200-day moving average price is $41.52.
Renasant Corporation (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. The firm had revenue of $113.87 million during the quarter, compared to the consensus estimate of $112.43 million. Renasant Corporation had a return on equity of 8.31% and a net margin of 20.31%. During the same period in the prior year, the business earned $0.59 EPS. On average, equities research analysts forecast that Renasant Corporation will post $2.35 EPS for the current year.
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In other news, Director Albert J. Dale III sold 15,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $42.54, for a total value of $638,100.00. Following the completion of the transaction, the director now owns 25,620 shares of the company’s stock, valued at $1,089,874.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward Robinson Mcgraw sold 5,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $43.00, for a total value of $215,000.00. Following the completion of the transaction, the chief executive officer now directly owns 229,789 shares of the company’s stock, valued at approximately $9,880,927. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 9,023 shares of company stock valued at $375,621 and have sold 25,000 shares valued at $1,052,800. 3.86% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its position in Renasant Corporation by 13.3% in the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after buying an additional 371 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Renasant Corporation during the first quarter valued at about $140,000. New York State Teachers Retirement System boosted its position in Renasant Corporation by 5.6% in the first quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock valued at $151,000 after buying an additional 200 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in Renasant Corporation during the second quarter valued at about $214,000. Finally, Aperio Group LLC acquired a new position in Renasant Corporation during the second quarter valued at about $229,000. 66.33% of the stock is owned by institutional investors.
Renasant Corporation Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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