Zacks Investment Research downgraded shares of Renasant Corporation (NASDAQ:RNST) from a hold rating to a sell rating in a report published on Thursday morning.

According to Zacks, “Renasant Corporation is the parent of Renasant Bank and Renasant Insurance, Inc. “

A number of other equities analysts also recently weighed in on the stock. Jefferies Group downgraded shares of Renasant Corporation from a buy rating to a hold rating and set a $41.00 price target on the stock. in a research note on Monday, November 28th. Keefe, Bruyette & Woods downgraded shares of Renasant Corporation from an outperform rating to a market perform rating and upped their price target for the stock from $37.00 to $43.00 in a research note on Tuesday, November 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Renasant Corporation has an average rating of Hold and a consensus price target of $37.80.

Renasant Corporation (NASDAQ:RNST) traded up 0.62% on Thursday, hitting $40.35. The company had a trading volume of 144,508 shares. Renasant Corporation has a 12-month low of $29.49 and a 12-month high of $44.65. The firm’s 50 day moving average price is $42.04 and its 200 day moving average price is $35.69. The stock has a market cap of $1.70 billion, a P/E ratio of 18.93 and a beta of 1.03.

Renasant Corporation (NASDAQ:RNST) last announced its earnings results on Tuesday, October 18th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. Renasant Corporation had a net margin of 19.24% and a return on equity of 8.64%. During the same quarter in the prior year, the company posted $0.53 EPS. Equities analysts predict that Renasant Corporation will post $2.19 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Renasant Corporation (RNST) Lowered to “Sell” at Zacks Investment Research” was originally reported by Watch List News and is the propert of of Watch List News. If you are reading this news story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this news story can be read at http://www.watchlistnews.com/renasant-corporation-rnst-lowered-to-sell-at-zacks-investment-research/1060460.html.

The firm also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Wednesday, December 14th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Monday, December 12th. Renasant Corporation’s payout ratio is 33.80%.

In other Renasant Corporation news, Director Fred F. Sharpe bought 2,000 shares of the stock in a transaction on Friday, October 21st. The shares were purchased at an average cost of $33.70 per share, with a total value of $67,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider O Leonard Dorminey sold 7,716 shares of the stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $41.60, for a total transaction of $320,985.60. Following the transaction, the insider now directly owns 26,879 shares in the company, valued at $1,118,166.40. The disclosure for this sale can be found here. Company insiders own 5.18% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Sei Investments Co. increased its position in Renasant Corporation by 0.4% in the second quarter. Sei Investments Co. now owns 6,845 shares of the financial services provider’s stock valued at $221,000 after buying an additional 29 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Renasant Corporation by 2.2% in the second quarter. Principal Financial Group Inc. now owns 8,343 shares of the financial services provider’s stock worth $270,000 after buying an additional 176 shares during the period. BlackRock Inc. boosted its stake in Renasant Corporation by 4.0% in the third quarter. BlackRock Inc. now owns 10,443 shares of the financial services provider’s stock worth $351,000 after buying an additional 406 shares during the period. Green Square Capital LLC boosted its stake in Renasant Corporation by 4.9% in the third quarter. Green Square Capital LLC now owns 11,961 shares of the financial services provider’s stock worth $402,000 after buying an additional 558 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in Renasant Corporation by 2.4% in the second quarter. Nationwide Fund Advisors now owns 31,881 shares of the financial services provider’s stock worth $1,031,000 after buying an additional 741 shares during the period. 58.81% of the stock is currently owned by hedge funds and other institutional investors.

Renasant Corporation Company Profile

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.

5 Day Chart for NASDAQ:RNST

Get a free copy of the Zacks research report on Renasant Corporation (RNST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Renasant Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.