BidaskClub cut shares of Renasant (NASDAQ:RNST) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, BidAskClub reports.

Other equities research analysts have also issued reports about the stock. ValuEngine upgraded shares of Renasant from a sell rating to a hold rating in a report on Friday, November 1st. Sandler O’Neill lowered shares of Renasant from a buy rating to a hold rating in a report on Wednesday, October 23rd. SunTrust Banks dropped their price objective on shares of Renasant from $37.00 to $36.00 and set a hold rating on the stock in a research report on Tuesday, August 27th. Zacks Investment Research raised shares of Renasant from a sell rating to a hold rating in a research report on Thursday, October 24th. Finally, DA Davidson assumed coverage on shares of Renasant in a research report on Tuesday, August 20th. They issued a neutral rating and a $37.00 price objective on the stock. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $36.75.

Renasant stock traded down $0.12 during mid-day trading on Wednesday, reaching $34.79. 121,900 shares of the company’s stock were exchanged, compared to its average volume of 205,608. The company has a market cap of $2.00 billion, a P/E ratio of 11.60 and a beta of 1.20. Renasant has a twelve month low of $28.02 and a twelve month high of $39.02. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $34.99 and a 200-day moving average of $34.80.

Renasant (NASDAQ:RNST) last released its earnings results on Monday, October 21st. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.06). The business had revenue of $146.78 million for the quarter, compared to analyst estimates of $151.37 million. Renasant had a return on equity of 8.53% and a net margin of 24.85%. During the same quarter last year, the company earned $0.78 earnings per share. Equities research analysts expect that Renasant will post 2.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Wednesday, December 18th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, December 17th. Renasant’s dividend payout ratio is presently 29.33%.

In other Renasant news, EVP James W. Gray sold 2,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $34.57, for a total value of $86,425.00. Following the sale, the executive vice president now directly owns 55,472 shares of the company’s stock, valued at approximately $1,917,667.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.64% of the company’s stock.

Large investors have recently made changes to their positions in the business. Shulman DeMeo Asset Management LLC purchased a new position in shares of Renasant in the 2nd quarter valued at $236,000. Commonwealth Equity Services LLC grew its position in shares of Renasant by 87.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,514 shares of the financial services provider’s stock valued at $665,000 after buying an additional 8,614 shares during the last quarter. Strs Ohio grew its position in shares of 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 buying an additional 400 shares during the last quarter. BancorpSouth Bank grew its position in shares of 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 buying an additional 1,033 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Renasant by 4.3% in the 2nd quarter. First Trust Advisors LP now owns 82,058 shares of the financial services provider’s stock valued at $2,949,000 after buying an additional 3,386 shares during the last quarter. 65.03% of the stock is currently owned by institutional investors.

About Renasant

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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Analyst Recommendations for Renasant (NASDAQ:RNST)

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