Renasant Corporation (NASDAQ:RNST) Cut to Strong Sell at BidaskClub

Renasant Corporation (NASDAQ:RNST) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday, July 27th.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 4th. ValuEngine raised Renasant Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $44.00 price target on shares of Renasant Corporation in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods set a $43.00 price target on Renasant Corporation and gave the company a “hold” rating in a report on Saturday, May 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $43.50.

Renasant Corporation (NASDAQ:RNST) traded up 0.22% on Thursday, reaching $41.66. 215,069 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $42.98 and a 200-day moving average price of $41.47. Renasant Corporation has a 1-year low of $31.56 and a 1-year high of $45.32. The company has a market capitalization of $1.85 billion, a PE ratio of 18.79 and a beta of 1.04.

Renasant Corporation (NASDAQ:RNST) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. Renasant Corporation had a return on equity of 8.41% and a net margin of 20.31%. The business had revenue of $113.87 million during the quarter, compared to analysts’ expectations of $112.43 million. During the same period in the prior year, the firm posted $0.59 EPS. On average, equities research analysts anticipate that Renasant Corporation will post $2.34 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This report was reported by BBNS and is the property of of BBNS. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at https://baseballnewssource.com/markets/renasant-corporation-nasdaqrnst-lowered-to-strong-sell-at-bidaskclub-updated/1315239.html.

In other news, Director Albert J. Dale III sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $42.54, for a total value of $638,100.00. Following the transaction, the director now directly owns 25,620 shares in the company, valued at approximately $1,089,874.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward Robinson Mcgraw sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $43.00, for a total value of $215,000.00. Following the completion of the transaction, the chief executive officer now owns 229,789 shares in the company, valued at $9,880,927. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 7,000 shares of company stock worth $295,600 and sold 33,000 shares worth $1,389,600. 3.86% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in Renasant Corporation during the first quarter valued at $140,000. New York State Teachers Retirement System acquired a new position in Renasant Corporation during the fourth quarter valued at $152,000. Trust Co. of Toledo NA OH acquired a new position in Renasant Corporation during the second quarter valued at $214,000. Aperio Group LLC acquired a new position in Renasant Corporation during the second quarter valued at $229,000. Finally, Amalgamated Bank raised its position in Renasant Corporation by 4.2% in the first quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Renasant Corporation Company Profile

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

Receive News & Ratings for Renasant Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Darren Daulton Former Catcher with Phillies Dies
Darren Daulton Former Catcher with Phillies Dies
Boston’s Chris Sale Will Pitch In Each of Three Series With Yankees
Boston’s Chris Sale Will Pitch In Each of Three Series With Yankees
Greg Holland Out For Rockies Following Kitchen Incident
Greg Holland Out For Rockies Following Kitchen Incident
Jon Lester Joins 2,000 Strikeout Club, Hits First Home Run
Jon Lester Joins 2,000 Strikeout Club, Hits First Home Run
Sonny Gray Acquired By Yankees from Athletics
Sonny Gray Acquired By Yankees from Athletics
Adrian Beltre Reaches 3,000 Careers Hits
Adrian Beltre Reaches 3,000 Careers Hits


Leave a Reply

 
© 2006-2017 BBNS.