Renasant Corporation (RNST) Earning Somewhat Favorable Media Coverage, Accern Reports
News articles about Renasant Corporation (NASDAQ:RNST) have trended somewhat positive on Saturday, Accern reports. The research group ranks the sentiment of media coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Renasant Corporation earned a coverage optimism score of 0.11 on Accern’s scale. Accern also gave media stories about the financial services provider an impact score of 44.9616809907353 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Renasant Corporation (RNST) traded down 1.20% during trading on Friday, hitting $39.62. 201,146 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $42.64 and its 200 day moving average price is $41.53. Renasant Corporation has a 12-month low of $32.51 and a 12-month high of $45.32. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 17.87 and a beta of 1.04.
Renasant Corporation (NASDAQ:RNST) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $113.87 million during the quarter, compared to analyst estimates of $112.43 million. Renasant Corporation had a net margin of 20.31% and a return on equity of 8.41%. During the same period in the previous year, the firm earned $0.59 EPS. Equities analysts forecast that Renasant Corporation will post $2.34 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on RNST shares. Zacks Investment Research upgraded shares of Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Tuesday, July 4th. ValuEngine upgraded shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 price target on shares of Renasant Corporation in a research report on Friday, June 9th. Keefe, Bruyette & Woods set a $43.00 price target on shares of Renasant Corporation and gave the stock a “hold” rating in a research report on Saturday, May 27th. Finally, BidaskClub lowered shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $43.50.
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In other news, CEO Edward Robinson Mcgraw sold 5,000 shares of Renasant Corporation stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $43.00, for a total transaction of $215,000.00. Following the completion of the transaction, the chief executive officer now directly owns 229,789 shares of the company’s stock, valued at approximately $9,880,927. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael D. Shmerling bought 1,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were purchased at an average cost of $41.50 per share, with a total value of $41,500.00. Following the completion of the acquisition, the director now owns 156,347 shares in the company, valued at $6,488,400.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 7,000 shares of company stock valued at $295,600 and have sold 33,000 shares valued at $1,389,600. 3.86% of the stock is owned by insiders.
About Renasant Corporation
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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