Renasant Corp. (RNST) Scheduled to Post Earnings on Tuesday
Renasant Corp. (NASDAQ:RNST) will release its Q316 earnings data on Tuesday, October 18th. Analysts expect Renasant Corp. to post earnings of $0.58 per share and revenue of $113.47 million for the quarter.
Shares of Renasant Corp. (NASDAQ:RNST) opened at 32.88 on Monday. The firm’s 50-day moving average price is $34.10 and its 200 day moving average price is $33.41. The stock has a market capitalization of $1.38 billion, a P/E ratio of 16.56 and a beta of 0.98. Renasant Corp. has a 52 week low of $29.49 and a 52 week high of $37.28.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Monday, September 12th. Renasant Corp.’s payout ratio is currently 36.36%.
In related news, EVP R Rick Hart sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $33.15, for a total value of $132,600.00. Following the completion of the transaction, the executive vice president now owns 69,139 shares of the company’s stock, valued at $2,291,957.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fred F. Sharpe acquired 1,000 shares of Renasant Corp. stock in a transaction that occurred on Monday, August 29th. The stock was acquired at an average cost of $35.12 per share, with a total value of $35,120.00. The disclosure for this purchase can be found here. 5.18% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. acquired a new position in shares of Renasant Corp. during the second quarter worth approximately $155,000. Capstone Investment Advisors LLC purchased a new position in Renasant Corp. during the second quarter valued at about $824,000. Bridgeway Capital Management Inc. raised its position in Renasant Corp. by 56.7% in the second quarter. Bridgeway Capital Management Inc. now owns 185,500 shares of the financial services provider’s stock valued at $5,997,000 after buying an additional 67,100 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Renasant Corp. by 4.6% in the second quarter. Parametric Portfolio Associates LLC now owns 57,129 shares of the financial services provider’s stock valued at $1,847,000 after buying an additional 2,506 shares in the last quarter. Finally, Brant Point Investment Management LLC purchased a new position in Renasant Corp. during the second quarter valued at about $1,759,000. 60.13% of the stock is owned by institutional investors.
Several research firms have recently weighed in on RNST. Zacks Investment Research raised shares of Renasant Corp. from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday, June 29th. Raymond James Financial Inc. downgraded shares of Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 price target for the company. in a research note on Monday, September 12th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $39.00 price target on shares of Renasant Corp. in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.20.
Renasant Corp. Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.
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