Renasant (RNST) Stock Rating Lowered by BidaskClub

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BidaskClub downgraded shares of Renasant (NASDAQ:RNST) from a hold rating to a sell rating in a research report released on Friday.

Several other research analysts have also commented on the company. Zacks Investment Research lowered Renasant from a hold rating to a sell rating in a research report on Thursday, March 21st. TheStreet raised Renasant from a c+ rating to a b- rating in a research report on Wednesday, February 20th. Hovde Group reissued a market perform rating and issued a $38.00 price objective (up from $34.00) on shares of Renasant in a research report on Monday, January 28th. Finally, Stephens set a $36.00 price objective on Renasant and gave the company a hold rating in a research report on Tuesday, January 22nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Renasant presently has a consensus rating of Hold and an average target price of $41.00.

NASDAQ:RNST opened at $32.58 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.95. Renasant has a 12 month low of $28.02 and a 12 month high of $49.78. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.86 and a beta of 1.24.

Renasant (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. Renasant had a return on equity of 8.85% and a net margin of 24.19%. The company had revenue of $151.83 million for the quarter, compared to analyst estimates of $152.15 million. During the same period last year, the company posted $0.33 earnings per share. Equities research analysts anticipate that Renasant will post 3.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Wednesday, March 20th. Renasant’s payout ratio is 28.00%.

In other news, EVP James W. Gray sold 2,504 shares of Renasant stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $38.33, for a total transaction of $95,978.32. Following the sale, the executive vice president now directly owns 58,072 shares of the company’s stock, valued at $2,225,899.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.64% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio increased its position in shares of Renasant by 200.0% during the fourth quarter. Strs Ohio now owns 900 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 600 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of Renasant by 213.7% during the third quarter. Federated Investors Inc. PA now owns 734 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Trustcore Financial Services LLC increased its position in shares of Renasant by 213.1% during the fourth quarter. Trustcore Financial Services LLC now owns 2,145 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,460 shares during the last quarter. Bank of Montreal Can increased its position in shares of Renasant by 16.3% during the fourth quarter. Bank of Montreal Can now owns 2,478 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 348 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of Renasant during the fourth quarter worth about $114,000. 61.10% of the stock is currently owned by institutional investors and hedge funds.

About Renasant

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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