Renasant (NASDAQ:RNST) Releases Earnings Results, Beats Expectations By $0.02 EPS

Renasant (NASDAQ:RNSTGet Free Report) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02, reports. Renasant had a net margin of 14.67% and a return on equity of 7.50%. The company had revenue of $254.56 million during the quarter, compared to the consensus estimate of $159.60 million. During the same period last year, the firm earned $0.82 EPS.

Renasant Stock Up 0.5 %

Shares of NASDAQ RNST opened at $30.66 on Thursday. Renasant has a 52-week low of $22.99 and a 52-week high of $34.85. The firm has a fifty day moving average of $30.36 and a 200-day moving average of $29.87. The stock has a market capitalization of $1.72 billion, a PE ratio of 12.46 and a beta of 1.03. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.19.

Renasant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.87%. Renasant’s dividend payout ratio is presently 35.77%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stephens lifted their price objective on Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Truist Financial cut their price objective on Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Keefe, Bruyette & Woods lifted 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. Finally, cut shares of Renasant from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from, Renasant presently has a consensus rating of “Hold” and an average target price of $33.00.

Read Our Latest Stock Report on RNST

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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Earnings History for Renasant (NASDAQ:RNST)

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