Renasant (NASDAQ:RNST) PT Raised to $38.00

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Renasant (NASDAQ:RNST) had its target price upped by equities research analysts at Stephens from $34.00 to $38.00 in a research note issued on Monday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 6.12% from the stock’s previous close.

Other research analysts have also issued reports about the company. ValuEngine raised Renasant from a “sell” rating to a “hold” rating in a report on Friday, November 1st. DA Davidson initiated coverage on Renasant in a report on Tuesday, August 20th. They set a “neutral” rating and a $37.00 target price for the company. BidaskClub raised Renasant from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 4th. SunTrust Banks reduced their target price on shares of Renasant from $37.00 to $36.00 and set a “hold” rating for the company in a research report on Tuesday, August 27th. Finally, Zacks Investment Research raised shares of Renasant from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.25.

Renasant stock opened at $35.81 on Monday. The stock has a market cap of $2.05 billion, a P/E ratio of 11.94 and a beta of 1.22. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Renasant has a twelve month low of $28.02 and a twelve month high of $39.02. The company’s 50-day moving average price is $35.20 and its two-hundred day moving average price is $34.72.

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

In other news, EVP James W. Gray sold 2,500 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $34.57, for a total value of $86,425.00. Following the completion of 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 can be accessed through this hyperlink. Insiders own 3.64% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Private Capital Group LLC acquired a new position in Renasant in the 2nd quarter valued at approximately $30,000. Mackay Shields LLC increased its holdings in Renasant by 192.1% in the third quarter. Mackay Shields LLC now owns 18,400 shares of the financial services provider’s stock valued at $644,000 after purchasing an additional 12,100 shares during the period. Russell Investments Group Ltd. increased its holdings in Renasant by 46.0% in the third quarter. Russell Investments Group Ltd. now owns 61,925 shares of the financial services provider’s stock valued at $2,168,000 after purchasing an additional 19,505 shares during the period. California Public Employees Retirement System raised its position in Renasant by 85.0% during 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 purchasing an additional 69,430 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Renasant by 4.3% during the 2nd quarter. First Trust Advisors LP now owns 82,058 shares of the financial services provider’s stock worth $2,949,000 after purchasing an additional 3,386 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Renasant Company Profile

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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