Renasant (NASDAQ:RNST) PT Raised to $36.00

Renasant (NASDAQ:RNST) had its price objective lifted by research analysts at Keefe, Bruyette & Woods from $34.00 to $36.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 2.04% from the stock’s current price.

Several other research firms have also recently weighed in on RNST. Hovde Group cut shares of Renasant from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $36.00 to $38.00 in a report on Thursday. Piper Sandler reissued a “neutral” rating and set a $33.00 price objective on shares of Renasant in a research report on Wednesday, July 3rd. Truist Financial lowered their price objective on Renasant from $33.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Finally, StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Renasant presently has a consensus rating of “Hold” and an average target price of $35.20.

Renasant Trading Down 1.8 %

Shares of Renasant stock traded down $0.63 on Thursday, hitting $35.28. The stock had a trading volume of 77,104 shares, compared to its average volume of 239,529. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. Renasant has a one year low of $22.99 and a one year high of $37.40. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 14.47 and a beta of 1.03. The stock’s 50-day simple moving average is $30.75 and its two-hundred day simple moving average is $30.77.

Renasant (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. The business had revenue of $163.79 million for the quarter, compared to analysts’ expectations of $166.05 million. Renasant had a net margin of 15.04% and a return on equity of 7.03%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. As a group, sell-side analysts predict that Renasant will post 2.62 EPS for the current year.

Institutional Investors Weigh In On Renasant

Several large investors have recently bought and sold shares of RNST. Louisiana State Employees Retirement System grew its stake in shares of Renasant by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,300 shares of the financial services provider’s stock valued at $864,000 after purchasing an additional 500 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Renasant by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,135 shares of the financial services provider’s stock valued at $1,539,000 after purchasing an additional 637 shares during the period. ProShare Advisors LLC grew its stake in shares of Renasant by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,153 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 765 shares during the period. GAMMA Investing LLC bought a new stake in shares of Renasant during the 4th quarter valued at about $25,000. Finally, Park Place Capital Corp grew its stake in shares of Renasant by 0.9% during the 2nd quarter. Park Place Capital Corp now owns 88,502 shares of the financial services provider’s stock valued at $2,703,000 after purchasing an additional 804 shares during the period. 77.31% of the stock is currently owned by 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.