Renasant’s (RNST) Outperform Rating Reaffirmed at Keefe, Bruyette & Woods

Renasant (NASDAQ:RNST)‘s stock had its “outperform” rating restated by research analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday,Benzinga reports. They presently have a $45.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 25.91% from the stock’s previous close.

RNST has been the subject of a number of other research reports. Truist Financial dropped their price objective on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a report on Friday, September 20th. Hovde Group cut Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.17.

Renasant Stock Down 0.1 %

Shares of NASDAQ RNST opened at $35.74 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.27 billion, a PE ratio of 11.64 and a beta of 1.02. The firm’s 50-day moving average is $36.20 and its 200-day moving average is $33.85. Renasant has a 1 year low of $27.98 and a 1 year high of $39.47.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $318.34 million for the quarter, compared to analysts’ expectations of $184.73 million. Renasant had a net margin of 16.83% and a return on equity of 6.70%. During the same period last year, the firm earned $0.75 earnings per share. Equities analysts expect that Renasant will post 2.65 EPS for the current year.

Insider Transactions at Renasant

In other Renasant news, Director John Creekmore sold 3,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.00, for a total transaction of $114,000.00. Following the completion of the transaction, the director now owns 24,057 shares in the company, valued at approximately $914,166. This represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Renasant by 1.7% in the 3rd quarter. Victory Capital Management Inc. now owns 3,955,366 shares of the financial services provider’s stock valued at $128,549,000 after buying an additional 65,777 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Renasant by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,887,606 shares of the financial services provider’s stock worth $118,725,000 after buying an additional 22,821 shares in the last quarter. State Street Corp boosted its stake in shares of Renasant by 26.5% during the 3rd quarter. State Street Corp now owns 3,369,915 shares of the financial services provider’s stock worth $109,522,000 after buying an additional 705,344 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Renasant by 21.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,746,924 shares of the financial services provider’s stock worth $56,775,000 after buying an additional 303,945 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Renasant by 12.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,428,038 shares of the financial services provider’s stock valued at $46,420,000 after acquiring an additional 153,086 shares in the last quarter. 77.31% of the stock is owned by institutional investors and hedge funds.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.