Renasant (NASDAQ:RNST) PT Raised to $36.00

Renasant (NASDAQ:RNST) had its price objective upped by Keefe, Bruyette & Woods from $34.00 to $36.00 in a report published on Thursday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

RNST has been the subject of a number of other reports. Truist Financial lowered their price target on Renasant from $33.00 to $32.00 and set a hold rating for the company in a research note on Monday, July 8th. StockNews.com upgraded shares of Renasant from a sell rating to a hold rating in a report on Saturday, April 27th. Hovde Group cut shares of Renasant from an outperform rating to a market perform rating and lifted their price target for the stock from $36.00 to $38.00 in a research report on Thursday. Finally, Piper Sandler restated a neutral rating and issued a $33.00 price objective on shares of Renasant in a research report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $36.40.

Renasant Price Performance

RNST opened at $36.41 on Thursday. The company has a fifty day moving average price of $30.85 and a two-hundred day moving average price of $30.81. The firm has a market capitalization of $2.05 billion, a PE ratio of 14.80 and a beta of 1.03. Renasant has a 52 week low of $22.99 and a 52 week high of $37.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Renasant had a return on equity of 6.98% and a net margin of 15.04%. The business had revenue of $163.79 million during the quarter, compared to analysts’ expectations of $166.05 million. During the same period in the previous year, the firm earned $0.83 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that Renasant will post 2.62 earnings per share for the current year.

Institutional Investors Weigh In On Renasant

Several large investors have recently made changes to their positions in RNST. GAMMA Investing LLC acquired a new position in Renasant in the 4th quarter worth $25,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Renasant in the fourth quarter valued at about $37,000. TFO Wealth Partners LLC boosted its position in shares of Renasant by 13,710.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,371 shares during the period. Criterion Capital Advisors LLC bought a new position in shares of Renasant during the fourth quarter worth about $113,000. Finally, Triad Wealth Partners LLC acquired a new stake in Renasant in the 2nd quarter valued at approximately $157,000. Institutional investors own 77.31% of the company’s stock.

About Renasant

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.