Renasant Corp. (NASDAQ:RNST) Receives $37.00 Average Price Target from Analysts

Renasant Corp. (NASDAQ:RNST) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $37.00.

Several equities research analysts recently weighed in on RNST shares. Zacks Investment Research raised shares of Renasant from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. SunTrust Banks started coverage on shares of Renasant in a research report on Wednesday, June 26th. They set a “hold” rating and a $37.00 price target for the company. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Renasant from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th.

Shares of NASDAQ RNST traded down $0.68 on Friday, reaching $32.66. 4,186 shares of the company’s stock traded hands, compared to its average volume of 234,942. Renasant has a 12 month low of $28.02 and a 12 month high of $47.65. The company has a 50 day moving average of $35.24. The stock has a market cap of $1.99 billion, a P/E ratio of 10.97 and a beta of 1.20. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Renasant (NASDAQ:RNST) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.01. The business had revenue of $154.76 million during the quarter, compared to the consensus estimate of $153.47 million. Renasant had a net margin of 24.65% and a return on equity of 8.76%. During the same quarter last year, the firm earned $0.74 earnings per share. Analysts expect that Renasant will post 3.09 earnings per share for the current year.

In other news, EVP James W. Gray sold 2,431 shares of Renasant stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $34.84, for a total transaction of $84,696.04. Following the transaction, the executive vice president now owns 58,880 shares in the company, valued at approximately $2,051,379.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.64% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio increased its holdings in Renasant by 44.4% in the 2nd quarter. Strs Ohio now owns 1,300 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 400 shares during the last quarter. Raymond James & Associates increased its holdings in Renasant by 0.8% in the 1st quarter. Raymond James & Associates now owns 87,413 shares of the financial services provider’s stock valued at $2,959,000 after acquiring an additional 698 shares during the last quarter. United Services Automobile Association increased its holdings 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 valued at $236,000 after acquiring an additional 999 shares during the last quarter. BancorpSouth Bank increased its holdings in Renasant by 0.9% in the 2nd quarter. BancorpSouth Bank now owns 110,491 shares of the financial services provider’s stock valued at $3,971,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Renasant by 7.6% in the 4th quarter. Legal & General Group Plc now owns 19,597 shares of the financial services provider’s stock valued at $592,000 after acquiring an additional 1,391 shares during the last quarter. Institutional investors own 61.76% of the company’s stock.

Renasant Company Profile

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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