Renasant Corp. (NASDAQ:RNST) Director Fred F. Sharpe purchased 1,000 shares of the stock in a transaction dated Monday, November 5th. The shares were acquired at an average price of $35.45 per share, with a total value of $35,450.00. Following the transaction, the director now owns 13,676 shares in the company, valued at $484,814.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
NASDAQ RNST traded up $0.14 during trading on Thursday, reaching $36.21. 4,894 shares of the stock traded hands, compared to its average volume of 244,682. The stock has a market cap of $1.76 billion, a P/E ratio of 15.04 and a beta of 1.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.92 and a current ratio of 0.95. Renasant Corp. has a fifty-two week low of $32.01 and a fifty-two week high of $49.78.
Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. The firm had revenue of $138.90 million during the quarter, compared to analysts’ expectations of $142.06 million. Renasant had a net margin of 20.84% and a return on equity of 9.37%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. Analysts predict that Renasant Corp. will post 3.02 earnings per share for the current fiscal year.
Several brokerages have recently commented on RNST. BidaskClub cut shares of Renasant from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 30th. Stephens restated a “hold” rating and set a $50.00 price objective on shares of Renasant in a report on Monday, August 20th. Zacks Investment Research upgraded shares of Renasant from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, ValuEngine cut shares of Renasant from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $47.20.
Hedge funds and other institutional investors have recently modified their holdings of the stock. First Quadrant L P CA acquired a new position in Renasant during the third quarter valued at approximately $124,000. Adviser Investments LLC acquired a new position in Renasant during the second quarter valued at approximately $147,000. Zeke Capital Advisors LLC acquired a new position in Renasant during the second quarter valued at approximately $211,000. Green Square Capital LLC acquired a new position in shares of Renasant in the second quarter valued at approximately $221,000. Finally, Chickasaw Capital Management LLC acquired a new position in shares of Renasant in the second quarter valued at approximately $294,000. Hedge funds and other institutional investors own 67.85% of the company’s stock.
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Renasant Company Profile
Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.
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