Renasant’s (RNST) Outperform Rating Reiterated at Keefe, Bruyette & Woods

Renasant (NASDAQ:RNST)‘s stock had its “outperform” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report released on Tuesday,Benzinga reports. They currently have a $45.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 25.87% from the company’s current price.

RNST has been the subject of a number of other reports. Truist Financial decreased their target price on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Hovde Group cut Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Renasant presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.17.

Renasant Stock Up 0.0 %

RNST stock opened at $35.75 on Tuesday. The company’s 50 day moving average is $36.29 and its two-hundred day moving average is $33.91. Renasant has a twelve month low of $27.98 and a twelve month high of $39.47. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.27 billion, a P/E ratio of 11.64 and a beta of 1.02.

Renasant (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Renasant had a net margin of 16.83% and a return on equity of 6.70%. The firm had revenue of $318.34 million for the quarter, compared to analyst estimates of $184.73 million. During the same period last year, the business earned $0.75 EPS. Research analysts expect that Renasant will post 2.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Creekmore sold 3,000 shares of Renasant stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the sale, the director now owns 24,057 shares of the company’s stock, valued at $914,166. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Renasant

A number of hedge funds have recently added to or reduced their stakes in RNST. JPMorgan Chase & Co. raised its stake in shares of Renasant by 81.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 263,353 shares of the financial services provider’s stock worth $8,559,000 after buying an additional 117,950 shares in the last quarter. Principal Financial Group Inc. raised its position in Renasant by 7.8% in the third quarter. Principal Financial Group Inc. now owns 299,485 shares of the financial services provider’s stock worth $9,733,000 after acquiring an additional 21,683 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Renasant by 122.0% in the third quarter. Franklin Resources Inc. now owns 27,669 shares of the financial services provider’s stock valued at $910,000 after acquiring an additional 15,203 shares during the period. Virtu Financial LLC purchased a new position in shares of Renasant in the 3rd quarter valued at about $357,000. Finally, Geode Capital Management LLC lifted its stake in shares of Renasant by 12.0% in the third quarter. Geode Capital Management LLC now owns 1,428,038 shares of the financial services provider’s stock valued at $46,420,000 after purchasing an additional 153,086 shares during the period. Institutional investors and hedge funds 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.