Analysts expect Renasant Corp. (NASDAQ:RNST) to report $0.81 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have issued estimates for Renasant’s earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.80. Renasant reported earnings per share of $0.75 in the same quarter last year, which indicates a positive year over year growth rate of 8%. The company is scheduled to announce its next quarterly earnings results after the market closes on Monday, July 22nd.
On average, analysts expect that Renasant will report full-year earnings of $3.19 per share for the current fiscal year, with EPS estimates ranging from $3.14 to $3.24. For the next fiscal year, analysts expect that the business will report earnings of $3.29 per share, with EPS estimates ranging from $3.20 to $3.33. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Renasant.
Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Renasant had a net margin of 24.55% and a return on equity of 8.76%. The firm had revenue of $150.50 million during the quarter, compared to the consensus estimate of $150.40 million. During the same period last year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year.
In other news, EVP James W. Gray sold 2,431 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $34.84, for a total transaction of $84,696.04. Following the completion of the sale, the executive vice president now directly owns 58,880 shares of the company’s stock, valued at $2,051,379.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.64% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Smith Shellnut Wilson LLC ADV bought a new stake in Renasant in the 1st quarter worth about $222,000. Great West Life Assurance Co. Can grew its position in Renasant by 38.2% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,697 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 1,850 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Renasant in the 4th quarter worth about $223,000. BW Gestao de Investimentos Ltda. grew its position in Renasant by 50.4% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 7,445 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 2,495 shares in the last quarter. Finally, United Services Automobile Association grew its position in Renasant by 14.7% in the 4th quarter. United Services Automobile Association now owns 7,816 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 999 shares in the last quarter. 61.79% of the stock is owned by institutional investors and hedge funds.
NASDAQ:RNST traded up $0.35 during mid-day trading on Friday, reaching $34.44. The stock had a trading volume of 7,225 shares, compared to its average volume of 259,322. The business has a 50-day simple moving average of $35.20. The stock has a market capitalization of $2.01 billion, a PE ratio of 11.44 and a beta of 1.20. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. Renasant has a 12 month low of $28.02 and a 12 month high of $47.65.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, June 13th. This is an increase from Renasant’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.56%. Renasant’s payout ratio is presently 29.33%.
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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