Renasant Co. (NASDAQ:RNST) Receives $37.25 Average PT from Analysts

Renasant Co. (NASDAQ:RNSTGet Rating) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $37.25.

A number of research firms have recently issued reports on RNST. StockNews.com began coverage on Renasant in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James upgraded Renasant from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Thursday, October 27th. Stephens raised their price target on Renasant from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 28th. Finally, Truist Financial raised their price target on Renasant from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, August 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in shares of Renasant by 108.1% during the first quarter. Nisa Investment Advisors LLC now owns 7,700 shares of the financial services provider’s stock valued at $258,000 after buying an additional 4,000 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Renasant by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 8,034 shares of the financial services provider’s stock valued at $269,000 after buying an additional 418 shares during the period. IFG Advisory LLC boosted its position in shares of Renasant by 28.7% during the first quarter. IFG Advisory LLC now owns 11,746 shares of the financial services provider’s stock valued at $392,000 after buying an additional 2,618 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Renasant by 154.6% during the first quarter. Envestnet Asset Management Inc. now owns 54,301 shares of the financial services provider’s stock valued at $1,816,000 after buying an additional 32,972 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Renasant by 6.9% during the first quarter. Commonwealth Equity Services LLC now owns 17,763 shares of the financial services provider’s stock valued at $594,000 after buying an additional 1,145 shares during the period. Hedge funds and other institutional investors own 76.55% of the company’s stock.

Renasant Stock Performance

Shares of RNST opened at $40.68 on Tuesday. The business’s fifty day simple moving average is $36.30 and its two-hundred day simple moving average is $33.04. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. Renasant has a 12 month low of $27.61 and a 12 month high of $41.77. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 14.53 and a beta of 1.16.

Renasant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 16th will be issued a $0.22 dividend. The ex-dividend date is Thursday, December 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.16%. Renasant’s dividend payout ratio (DPR) is 31.43%.

About Renasant

(Get Rating)

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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities.

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Analyst Recommendations for Renasant (NASDAQ:RNST)

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