Renasant Corp (NYSE:RNST) Stock Has Average Price Target of $46.67

Renasant Corp (NYSE:RNST) has been assigned an average rating of “Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $46.67.

Several research firms have recently weighed in on RNST. Piper Sandler lifted their target price on shares of Renasant from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. TD Cowen cut their price target on shares of Renasant from $49.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Weiss Ratings upgraded shares of Renasant from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Raymond James Financial lowered shares of Renasant from a “strong-buy” rating to an “outperform” rating in a research note on Thursday.

Insider Transactions at Renasant

In other news, Director Edward Mcgraw sold 35,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $43.88, for a total value of $1,535,800.00. Following the completion of the sale, the director owned 211,458 shares in the company, valued at $9,278,777.04. This represents a 14.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.07% of the stock is currently owned by company insiders.

Institutional Trading of Renasant

Several hedge funds and other institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC grew its stake in Renasant by 151.9% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,063 shares of the company’s stock valued at $45,000 after acquiring an additional 641 shares in the last quarter. Nykredit A S acquired a new position in shares of Renasant in the 2nd quarter valued at about $47,000. Versant Capital Management Inc lifted its position in shares of Renasant by 33.6% in the second quarter. Versant Capital Management Inc now owns 1,276 shares of the company’s stock worth $54,000 after purchasing an additional 321 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of Renasant in the first quarter worth approximately $89,000. Finally, State of Wyoming boosted its holdings in shares of Renasant by 96.9% during the first quarter. State of Wyoming now owns 3,608 shares of the company’s stock worth $130,000 after purchasing an additional 1,776 shares during the period. Institutional investors and hedge funds own 77.31% of the company’s stock.

Renasant Price Performance

NYSE RNST opened at $40.14 on Thursday. The stock’s 50-day moving average price is $40.39 and its two-hundred day moving average price is $40.15. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.67 billion, a PE ratio of 12.02 and a beta of 0.97. Renasant has a 1 year low of $33.04 and a 1 year high of $44.54.

Renasant (NYSE:RNST) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). Renasant had a net margin of 19.94% and a return on equity of 8.67%. The firm had revenue of $272.96 million for the quarter, compared to analysts’ expectations of $282.34 million. During the same period in the prior year, the company posted $0.77 earnings per share. On average, analysts predict that Renasant will post 3.77 EPS for the current year.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, September 16th. Renasant’s payout ratio is 26.89%.

Key Stories Impacting Renasant

Here are the key news stories impacting Renasant this week:

• Positive Sentiment: Renasant agreed to acquire Commercial Holding Company in a transaction valued at approximately $140 million. The deal would expand Renasant’s West Tennessee franchise with more than $900 million in low-cost, core deposits. Management expects the acquisition to add roughly 4% to earnings per share and close in the first quarter of 2027. Renasant Corporation to Acquire Commercial Holding Company
• Positive Sentiment: The company’s board authorized a $175 million share buyback, while a related tranche update provided further details on the repurchase program. Buybacks can support per-share results and signal confidence in the company’s valuation. Renasant Corporation announces an Equity Buyback
• Neutral Sentiment: Third-quarter earnings increased from $0.77 to $0.86 per share year over year, with reported net margin of 19.94% and return on equity of 8.67%. However, the results were below expectations, limiting the positive impact of the year-over-year improvement. Renasant Reports Third-Quarter Earnings Results
• Negative Sentiment: Renasant reported adjusted EPS of $0.86, missing the consensus estimate of $0.94, while revenue of approximately $272.7 million fell short of the $282.3 million estimate. The simultaneous earnings and revenue misses are the primary reason investors are pressuring RNST shares. Renasant Lags Q3 Earnings and Revenue Estimates

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.