Renasant (NASDAQ:RNST) had its price objective raised by stock analysts at Stephens from $34.00 to $38.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 6.12% from the stock’s current price.

RNST has been the topic of a number of other research reports. SunTrust Banks dropped their price objective on Renasant from $37.00 to $36.00 and set a “hold” rating on the stock in a report on Tuesday, August 27th. Sandler O’Neill lowered Renasant from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Zacks Investment Research upgraded Renasant from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. DA Davidson assumed coverage on shares of Renasant in a report on Tuesday, August 20th. They issued a “neutral” rating and a $37.00 price target on the stock. Finally, ValuEngine upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Renasant presently has a consensus rating of “Hold” and an average price target of $37.25.

Shares of RNST stock opened at $35.81 on Monday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 11.94 and a beta of 1.22. The company’s fifty day simple moving average is $35.20 and its two-hundred day simple moving average is $34.72. Renasant has a 1 year low of $28.02 and a 1 year high of $39.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.92.

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

In other Renasant news, EVP James W. Gray sold 2,500 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $34.57, for a total value of $86,425.00. Following the transaction, the executive vice president now directly owns 55,472 shares in the company, valued at approximately $1,917,667.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.64% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Private Capital Group LLC bought a new stake in Renasant during the second quarter valued at approximately $30,000. Mackay Shields LLC grew its stake in Renasant by 192.1% in the 3rd quarter. Mackay Shields LLC now owns 18,400 shares of the financial services provider’s stock worth $644,000 after buying an additional 12,100 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Renasant by 46.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 61,925 shares of the financial services provider’s stock worth $2,168,000 after buying an additional 19,505 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Renasant by 85.0% in the 3rd quarter. California Public Employees Retirement System now owns 151,150 shares of the financial services provider’s stock worth $5,292,000 after buying an additional 69,430 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings 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 worth $2,949,000 after buying an additional 3,386 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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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