Renasant Corp. (NASDAQ:RNST) – Analysts at Jefferies Group upped their Q4 2016 EPS estimates for Renasant Corp. in a research report issued on Monday. Jefferies Group analyst C. Haire now forecasts that the firm will earn $0.57 per share for the quarter, up from their previous forecast of $0.56. Jefferies Group has a “Hold” rating and a $41.00 price objective on the stock. Jefferies Group also issued estimates for Renasant Corp.’s Q1 2017 earnings at $0.56 EPS, Q2 2017 earnings at $0.60 EPS, Q3 2017 earnings at $0.64 EPS, Q4 2017 earnings at $0.65 EPS, FY2017 earnings at $2.45 EPS and FY2018 earnings at $2.65 EPS.

Renasant Corp. (NASDAQ:RNST) last announced its earnings results on Tuesday, October 18th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. Renasant Corp. had a net margin of 19.24% and a return on equity of 8.64%. During the same quarter last year, the business earned $0.53 EPS. TRADEMARK VIOLATION NOTICE: This piece of content was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2016/12/01/q4-2016-eps-estimates-for-renasant-corp-raised-by-analyst-rnst.html.

Earnings History and Estimates for Renasant Corp. (NASDAQ:RNST)

A number of other brokerages also recently weighed in on RNST. Keefe, Bruyette & Woods cut shares of Renasant Corp. from an “outperform” rating to a “market perform” rating and increased their price target for the company from $37.00 to $43.00 in a research report on Tuesday. Zacks Investment Research upgraded shares of Renasant Corp. from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Raymond James Financial Inc. cut shares of Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 target price on the stock. in a report on Monday, September 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $37.80.

Shares of Renasant Corp. (NASDAQ:RNST) opened at 41.46 on Tuesday. The company has a market cap of $1.75 billion, a P/E ratio of 19.45 and a beta of 0.94. Renasant Corp. has a 12 month low of $29.49 and a 12 month high of $41.81. The stock’s 50 day moving average is $35.55 and its 200 day moving average is $34.02.

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Wednesday, December 14th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, December 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.74%. Renasant Corp.’s dividend payout ratio is currently 33.80%.

In other Renasant Corp. news, Director Fred F. Sharpe purchased 2,000 shares of the stock in a transaction that occurred on Friday, October 21st. The shares were bought at an average cost of $33.70 per share, with a total value of $67,400.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James W. Gray sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $39.50, for a total value of $197,500.00. Following the completion of the transaction, the executive vice president now directly owns 14,214 shares in the company, valued at $561,453. The disclosure for this sale can be found here. Company insiders own 5.18% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2016/12/01/q4-2016-eps-estimates-for-renasant-corp-raised-by-analyst-rnst.html.

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Renasant Corp. by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,419,967 shares of the financial services provider’s stock valued at $78,236,000 after buying an additional 13,201 shares during the last quarter. Dean Investment Associates LLC raised its stake in Renasant Corp. by 4.3% in the second quarter. Dean Investment Associates LLC now owns 74,910 shares of the financial services provider’s stock valued at $2,422,000 after buying an additional 3,060 shares during the last quarter. Nationwide Fund Advisors raised its stake in Renasant Corp. by 2.4% in the second quarter. Nationwide Fund Advisors now owns 31,881 shares of the financial services provider’s stock valued at $1,031,000 after buying an additional 741 shares during the last quarter. Swiss National Bank raised its stake in Renasant Corp. by 5.3% in the second quarter. Swiss National Bank now owns 64,100 shares of the financial services provider’s stock valued at $2,072,000 after buying an additional 3,200 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Renasant Corp. during the second quarter valued at $3,180,000. 62.76% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:RNST

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