Renasant Co. (NASDAQ:RNST) Receives $31.50 Consensus Target Price from Analysts

Renasant Co. (NASDAQ:RNSTGet Free Report) has received a consensus rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $31.50.

A number of analysts recently issued reports on RNST shares. Keefe, Bruyette & Woods raised their price objective on Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th. Stephens boosted their price target 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, TheStreet raised shares of Renasant from a “c+” rating to a “b-” rating in a research report on Thursday, December 14th.

Read Our Latest Report on Renasant

Renasant Price Performance

Shares of RNST stock opened at $29.16 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.91 and a quick ratio of 0.90. The company has a market capitalization of $1.64 billion, a PE ratio of 11.30 and a beta of 1.03. The firm’s 50-day moving average is $31.50 and its two-hundred day moving average is $29.18. Renasant has a 12 month low of $22.99 and a 12 month high of $34.85.

Renasant (NASDAQ:RNSTGet Free Report) last released 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. The firm had revenue of $230.79 million for the quarter, compared to analysts’ expectations of $160.63 million. Renasant had a return on equity of 7.98% and a net margin of 15.94%. During the same period in the prior year, the firm posted $0.89 earnings per share. Analysts predict that Renasant will post 2.56 earnings per share for the current year.

Renasant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Thursday, March 14th. Renasant’s payout ratio is 34.11%.

Institutional Investors Weigh In On Renasant

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Renasant by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider’s stock worth $216,121,000 after acquiring an additional 16,417 shares during the period. Victory Capital Management Inc. raised its position in Renasant by 89.4% in the 3rd quarter. Victory Capital Management Inc. now owns 4,535,641 shares of the financial services provider’s stock valued at $118,788,000 after purchasing an additional 2,140,613 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Renasant by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,913,033 shares of the financial services provider’s stock valued at $131,793,000 after buying an additional 34,897 shares during the period. State Street Corp grew its position in shares of Renasant by 10.8% during the first quarter. State Street Corp now owns 2,908,644 shares of the financial services provider’s stock worth $97,294,000 after buying an additional 282,738 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in shares of Renasant by 12.0% during the second quarter. Westwood Holdings Group Inc. now owns 2,072,760 shares of the financial services provider’s stock worth $54,161,000 after buying an additional 222,425 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

About Renasant

(Get Free Report

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.

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Analyst Recommendations for Renasant (NASDAQ:RNST)

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