Renasant Corp. (NASDAQ:RNST) – Analysts at SunTrust Banks dropped their Q4 2020 earnings per share (EPS) estimates for shares of Renasant in a research note issued to investors on Tuesday, June 30th. SunTrust Banks analyst J. Demba now anticipates that the financial services provider will post earnings of $0.34 per share for the quarter, down from their prior forecast of $0.35. SunTrust Banks also issued estimates for Renasant’s Q1 2021 earnings at $0.34 EPS, Q2 2021 earnings at $0.40 EPS, Q3 2021 earnings at $0.45 EPS, Q4 2021 earnings at $0.44 EPS and FY2021 earnings at $1.62 EPS.
Renasant (NASDAQ:RNST) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.47). Renasant had a net margin of 18.07% and a return on equity of 6.48%. The company had revenue of $144.17 million for the quarter, compared to the consensus estimate of $143.70 million. During the same period in the prior year, the company earned $0.77 earnings per share.
Renasant stock opened at $24.90 on Wednesday. The firm has a 50 day moving average price of $23.75 and a 200-day moving average price of $27.86. The company has a market capitalization of $1.35 billion, a P/E ratio of 11.58 and a beta of 1.31. Renasant has a twelve month low of $18.22 and a twelve month high of $36.84. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.18.
Large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. bought a new stake in Renasant in the 1st quarter worth $70,000. Invesco Ltd. grew its holdings in Renasant by 112.8% in the 1st quarter. Invesco Ltd. now owns 110,848 shares of the financial services provider’s stock worth $2,421,000 after acquiring an additional 58,752 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in Renasant in the 1st quarter worth $654,000. Thrivent Financial for Lutherans grew its holdings in Renasant by 311.1% in the 1st quarter. Thrivent Financial for Lutherans now owns 122,070 shares of the financial services provider’s stock worth $2,666,000 after acquiring an additional 92,379 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Renasant by 7.4% in the 1st quarter. Wells Fargo & Company MN now owns 1,953,793 shares of the financial services provider’s stock worth $42,670,000 after acquiring an additional 134,704 shares during the last quarter. Institutional investors own 66.58% of the company’s stock.
In related news, Director R Rick Hart sold 4,058 shares of Renasant stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $24.21, for a total value of $98,244.18. Following the transaction, the director now owns 68,712 shares in the company, valued at approximately $1,663,517.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard Heyer bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average price of $24.58 per share, for a total transaction of $49,160.00. Following the transaction, the director now owns 28,287 shares in the company, valued at $695,294.46. The disclosure for this purchase can be found here. Company insiders own 3.99% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, April 16th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Wednesday, April 15th. Renasant’s dividend payout ratio (DPR) is currently 30.24%.
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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