Renasant Corp. (RNST) Expected to Post Earnings of $0.77 Per Share

Analysts forecast that Renasant Corp. (NASDAQ:RNST) will post earnings of $0.77 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Renasant’s earnings, with estimates ranging from $0.75 to $0.78. Renasant posted earnings per share of $0.70 during the same quarter last year, which would indicate a positive year over year growth rate of 10%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, April 23rd.

According to Zacks, analysts expect that Renasant will report full-year earnings of $3.20 per share for the current year, with EPS estimates ranging from $3.15 to $3.26. For the next fiscal year, analysts forecast that the firm will report earnings of $3.28 per share, with EPS estimates ranging from $3.15 to $3.39. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Renasant.

Renasant (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. Renasant had a return on equity of 8.85% and a net margin of 24.19%. The company had revenue of $151.83 million for the quarter, compared to analyst estimates of $152.15 million. During the same period last year, the company posted $0.33 earnings per share.

RNST has been the topic of several research reports. TheStreet raised Renasant from a “c+” rating to a “b-” rating in a research report on Wednesday, February 20th. Zacks Investment Research raised Renasant from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Stephens set a $36.00 price objective on Renasant and gave the company a “hold” rating in a research report on Tuesday, January 22nd. Finally, BidaskClub raised Renasant from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Renasant presently has a consensus rating of “Hold” and a consensus price target of $37.00.

NASDAQ:RNST traded up $0.49 during mid-day trading on Friday, hitting $35.04. The company had a trading volume of 152,253 shares, compared to its average volume of 209,094. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.91. Renasant has a 1 year low of $28.02 and a 1 year high of $49.78. The firm has a market capitalization of $2.02 billion, a PE ratio of 11.68 and a beta of 1.22.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.40%. The ex-dividend date was Wednesday, March 20th. Renasant’s dividend payout ratio (DPR) is presently 28.00%.

In other news, EVP James W. Gray sold 2,504 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $38.33, for a total transaction of $95,978.32. Following the completion of the sale, the executive vice president now directly owns 58,072 shares in the company, valued at $2,225,899.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.64% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can grew its stake in shares of Renasant by 38.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 6,697 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 1,850 shares in the last quarter. BancorpSouth Bank grew its stake in shares of Renasant by 133.6% during the fourth quarter. BancorpSouth Bank now owns 120,815 shares of the financial services provider’s stock valued at $3,646,000 after acquiring an additional 69,091 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Renasant by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,098,733 shares of the financial services provider’s stock valued at $168,909,000 after acquiring an additional 54,183 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Renasant by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 34,380 shares of the financial services provider’s stock valued at $1,417,000 after acquiring an additional 12,222 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Renasant during the third quarter valued at about $44,809,000. Institutional investors own 61.10% of the company’s stock.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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