Renasant (RNST) Rating Lowered to Sell at BidaskClub
Renasant (NASDAQ:RNST) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.
A number of other analysts also recently commented on the company. Zacks Investment Research downgraded Renasant from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. ValuEngine upgraded Renasant from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $43.00 target price on shares of Renasant in a research report on Friday, September 29th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Renasant has an average rating of “Hold” and a consensus target price of $44.00.
Renasant (NASDAQ:RNST) traded up $0.49 on Tuesday, reaching $41.16. The company’s stock had a trading volume of 188,708 shares, compared to its average volume of 189,017. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market capitalization of $2,040.00, a P/E ratio of 17.47 and a beta of 1.00. Renasant has a one year low of $37.68 and a one year high of $45.31.
Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, October 17th. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.08). The firm had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $127.07 million. Renasant had a return on equity of 8.15% and a net margin of 20.44%. During the same quarter in the previous year, the firm posted $0.59 earnings per share. equities analysts anticipate that Renasant will post 2.3 EPS for the current fiscal year.
In other news, EVP William Mark Williams sold 7,000 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $41.32, for a total value of $289,240.00. Following the completion of the transaction, the executive vice president now directly owns 21,652 shares of the company’s stock, valued at $894,660.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director J Niles Mcneel sold 10,000 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $42.39, for a total value of $423,900.00. Following the completion of the transaction, the director now directly owns 29,921 shares of the company’s stock, valued at $1,268,351.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,729 shares of company stock worth $1,356,863. 3.86% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RNST. Aperio Group LLC acquired a new position in shares of Renasant in the second quarter worth $229,000. Russell Investments Group Ltd. raised its holdings in shares of Renasant by 27.8% in the second quarter. Russell Investments Group Ltd. now owns 41,300 shares of the financial services provider’s stock worth $1,807,000 after acquiring an additional 8,990 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Renasant by 3.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 182,292 shares of the financial services provider’s stock worth $7,974,000 after acquiring an additional 6,157 shares during the last quarter. Rhumbline Advisers increased its stake in Renasant by 4.4% in the second quarter. Rhumbline Advisers now owns 52,615 shares of the financial services provider’s stock valued at $2,301,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Renasant by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 297,139 shares of the financial services provider’s stock valued at $12,997,000 after purchasing an additional 6,792 shares during the last quarter. 65.39% of the stock is owned by institutional investors.
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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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