Equities analysts expect that Renasant Corporation (NASDAQ:RNST) will report sales of $124.70 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Renasant Corporation’s earnings, with the lowest sales estimate coming in at $123.20 million and the highest estimate coming in at $126.20 million. Renasant Corporation reported sales of $108.12 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.3%. The firm is scheduled to announce its next earnings results on Tuesday, January 16th.

On average, analysts expect that Renasant Corporation will report full-year sales of $124.70 million for the current fiscal year, with estimates ranging from $466.50 million to $475.20 million. For the next fiscal year, analysts anticipate that the business will post sales of $519.25 million per share, with estimates ranging from $513.80 million to $524.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Renasant Corporation.

Renasant Corporation (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.08). The company had revenue of $123.43 million during the quarter, compared to analyst estimates of $127.07 million. Renasant Corporation had a net margin of 20.44% and a return on equity of 8.15%. During the same period in the prior year, the company earned $0.59 earnings per share.

A number of analysts have weighed in on RNST shares. Zacks Investment Research cut shares of Renasant Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BidaskClub cut shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. ValuEngine raised shares of Renasant Corporation from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $43.00 target price on shares of Renasant Corporation in a report on Friday, September 29th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Renasant Corporation currently has a consensus rating of “Hold” and an average price target of $44.00.

In other Renasant Corporation news, Director J Niles Mcneel sold 10,000 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $42.39, for a total transaction of $423,900.00. Following the sale, the director now directly owns 29,921 shares of the company’s stock, valued at $1,268,351.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Shmerling acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average cost of $39.40 per share, for a total transaction of $39,400.00. Following the acquisition, the director now owns 157,347 shares in the company, valued at $6,199,471.80. The disclosure for this purchase can be found here. 3.86% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in RNST. Principal Financial Group Inc. increased its holdings in shares of Renasant Corporation by 36.4% in the 1st quarter. Principal Financial Group Inc. now owns 7,692 shares of the financial services provider’s stock worth $305,000 after acquiring an additional 2,053 shares during the period. Teachers Advisors LLC increased its holdings in shares of Renasant Corporation by 6.5% in the 1st quarter. Teachers Advisors LLC now owns 71,571 shares of the financial services provider’s stock worth $2,841,000 after acquiring an additional 4,381 shares during the period. Legal & General Group Plc increased its holdings in shares of Renasant Corporation by 3.8% in the 1st quarter. Legal & General Group Plc now owns 15,843 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 574 shares during the period. Vanguard Group Inc. increased its holdings in shares of Renasant Corporation by 44.4% in the 1st quarter. Vanguard Group Inc. now owns 3,410,031 shares of the financial services provider’s stock worth $135,344,000 after acquiring an additional 1,048,279 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Renasant Corporation by 18.1% in the 1st quarter. Geode Capital Management LLC now owns 379,202 shares of the financial services provider’s stock worth $15,050,000 after acquiring an additional 58,251 shares during the period. 63.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Renasant Corporation (NASDAQ:RNST) traded down $0.03 during trading hours on Friday, hitting $40.40. 319,346 shares of the company’s stock were exchanged, compared to its average volume of 189,887. The firm has a market capitalization of $1,990.00, a PE ratio of 17.22 and a beta of 1.00. Renasant Corporation has a 52 week low of $37.68 and a 52 week high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.14.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from Renasant Corporation’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, December 14th. Renasant Corporation’s dividend payout ratio is 32.88%.

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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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Earnings History and Estimates for Renasant Corporation (NASDAQ:RNST)

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