Renasant Corporation (RNST) Earning Somewhat Positive News Coverage, Study Shows
News articles about Renasant Corporation (NASDAQ:RNST) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Renasant Corporation earned a daily sentiment score of 0.10 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 84 out of 100, indicating that recent media coverage is very likely to have an effect on the stock’s share price in the immediate future.
Several research analysts have commented on the stock. Zacks Investment Research raised shares of Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 4th. Jefferies Group LLC reissued a “hold” rating and issued a $44.00 price target on shares of Renasant Corporation in a report on Friday, June 9th. ValuEngine raised shares of Renasant Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $43.00 price target on shares of Renasant Corporation and gave the company a “hold” rating in a report on Saturday, May 27th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.50.
Shares of Renasant Corporation (NASDAQ:RNST) traded down 0.26% on Friday, reaching $42.49. 239,769 shares of the company’s stock traded hands. The firm’s 50-day moving average is $42.21 and its 200-day moving average is $41.28. Renasant Corporation has a 52-week low of $31.56 and a 52-week high of $45.31. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 19.40 and a beta of 1.06.
Renasant Corporation (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The firm had revenue of $106.04 million during the quarter, compared to analysts’ expectations of $109.87 million. Renasant Corporation had a net margin of 19.90% and a return on equity of 8.35%. During the same period in the prior year, the company posted $0.54 earnings per share. Analysts anticipate that Renasant Corporation will post $2.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were paid a $0.18 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.69%. Renasant Corporation’s dividend payout ratio (DPR) is presently 33.03%.
In other news, EVP James W. Gray sold 5,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $39.94, for a total value of $199,700.00. Following the completion of the sale, the executive vice president now directly owns 43,604 shares of the company’s stock, valued at $1,741,543.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Albert J. Dale III sold 8,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $42.10, for a total transaction of $336,800.00. Following the completion of the sale, the director now directly owns 40,620 shares of the company’s stock, valued at $1,710,102. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,000 shares of company stock valued at $751,500. Corporate insiders own 3.86% of the company’s stock.
About Renasant Corporation
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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