Renasant (RNST) to Release Earnings on Wednesday
Renasant (NASDAQ:RNST) is set to announce its earnings results after the market closes on Wednesday, January 17th. Analysts expect the company to announce earnings of $0.62 per share for the quarter.
Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). Renasant had a return on equity of 8.15% and a net margin of 20.44%. The firm had revenue of $123.43 million for the quarter, compared to analyst estimates of $127.07 million. During the same quarter last year, the firm earned $0.59 earnings per share. On average, analysts expect Renasant to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Renasant (RNST) opened at $42.06 on Wednesday. Renasant has a one year low of $37.68 and a one year high of $45.31. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2,058.63, a PE ratio of 19.21 and a beta of 1.01.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Renasant’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, December 14th. Renasant’s payout ratio is 34.70%.
In other Renasant news, Director J Niles Mcneel sold 12,990 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $40.85, for a total value of $530,641.50. Following the sale, the director now owns 24,431 shares of the company’s stock, valued at $998,006.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Mark Williams sold 7,000 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $41.32, for a total transaction of $289,240.00. Following the completion of the sale, the executive vice president now directly owns 21,652 shares in the company, valued at approximately $894,660.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,729 shares of company stock worth $1,356,863. 3.86% of the stock is owned by insiders.
A number of analysts recently commented on the stock. ValuEngine raised shares of Renasant from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Zacks Investment Research raised shares of Renasant from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, September 20th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $43.00 price objective on shares of Renasant in a report on Friday, September 29th. BidaskClub downgraded shares of Renasant from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Finally, Sandler O’Neill reissued a “hold” rating and set a $45.00 price objective on shares of Renasant in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.75.
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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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