Brokerages Set Renasant Co. (NASDAQ:RNST) PT at $33.00

Renasant Co. (NASDAQ:RNST) has earned a consensus recommendation of “Hold” from the four research firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $33.00.

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price target on Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a report on Tuesday, January 30th. Stephens upped their target price on shares of Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. StockNews.com raised shares of Renasant from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Truist Financial decreased their target price on Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, April 1st.

Renasant Stock Up 0.8 %

Shares of Renasant stock opened at $30.34 on Tuesday. Renasant has a 1 year low of $22.99 and a 1 year high of $34.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92. The company has a 50-day moving average of $30.07 and a 200 day moving average of $30.14. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 10.06 and a beta of 1.04.

Renasant (NASDAQ:RNST) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $254.56 million during the quarter, compared to analyst estimates of $159.60 million. Renasant had a net margin of 14.67% and a return on equity of 7.44%. During the same period last year, the business earned $0.82 earnings per share. As a group, sell-side analysts anticipate that Renasant will post 2.62 earnings per share for the current fiscal year.

Renasant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.90%. Renasant’s dividend payout ratio is currently 35.77%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of Renasant during the 4th quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Renasant in the 4th quarter worth approximately $37,000. TFO Wealth Partners LLC grew its holdings in Renasant by 13,710.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,371 shares in the last quarter. Covestor Ltd raised its position in shares of Renasant by 26.6% during the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider’s stock valued at $58,000 after buying an additional 463 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new position in shares of Renasant during the fourth quarter worth $113,000. 77.31% of the stock is owned by hedge funds and other institutional investors.

Renasant Company Profile

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.