Renasant (NYSE:RNST) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Renasant (NYSE:RNST) announced its quarterly earnings results on Tuesday. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08), FiscalAI reports. The business had revenue of $272.96 million during the quarter, compared to analysts’ expectations of $282.34 million. Renasant had a net margin of 19.94% and a return on equity of 8.67%.

Renasant Price Performance

Shares of RNST stock traded down $0.15 on Tuesday, reaching $41.60. 537,579 shares of the company were exchanged, compared to its average volume of 696,458. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 12.45 and a beta of 1.01. The business has a 50-day moving average price of $40.51 and a 200 day moving average price of $40.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.90 and a current ratio of 0.91. Renasant has a 1 year low of $33.04 and a 1 year high of $44.54.

Renasant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a $0.24 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Renasant’s dividend payout ratio (DPR) is 28.74%.

Renasant News Summary

Here are the key news stories impacting Renasant this week:

• Positive Sentiment: Renasant agreed to acquire Commercial Holding Company, a deal intended to expand its West Tennessee franchise and add more than $900 million in low-cost, core deposits. The transaction could strengthen RNST’s funding base and regional scale. Renasant Corporation to Acquire Commercial Holding Company
• Neutral Sentiment: The acquisition announcement is strategically positive, but investors may still assess its execution risks, including integration costs, deal terms and the timing of any earnings contribution. Renasant Announces Merger Agreement with Commercial Holding
• Negative Sentiment: Third-quarter adjusted earnings per share were $0.86, below the FactSet consensus estimate of $0.94. The earnings miss suggests profitability was weaker than analysts expected. Renasant Q3 Adjusted EPS
• Negative Sentiment: Quarterly revenue totaled approximately $272.7 million to $273.0 million, under the $282.3 million analyst estimate. The revenue shortfall compounds the earnings miss and is the clearest near-term pressure on RNST. Renasant Q3 Revenue

Analyst Ratings Changes

Several brokerages have commented on RNST. TD Cowen dropped their price objective on Renasant from $49.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Piper Sandler boosted their price objective on Renasant from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings raised Renasant from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, Renasant has a consensus rating of “Buy” and a consensus price target of $46.67.

Insider Buying and Selling at Renasant

In related news, Director Edward Mcgraw sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $43.88, for a total value of $1,535,800.00. Following the transaction, the director directly owned 211,458 shares of the company’s stock, valued at approximately $9,278,777.04. This trade represents a 14.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.07% of the stock is currently owned by company insiders.

About Renasant

Renasant Corporation is a financial services holding company headquartered in Tupelo, Mississippi. Through its principal subsidiary, Renasant Bank, the company provides banking and related financial services to individuals, families, small businesses, commercial clients and other organizations.

Renasant Bank offers deposit accounts, consumer and commercial lending, residential mortgages, treasury management and other business banking services. Its broader offerings also include wealth management, trust and investment services, financial planning and insurance-related solutions.

Renasant traces its banking history to 1904 and has expanded through organic growth and acquisitions.