BidaskClub upgraded shares of Renasant (NASDAQ:RNST) from a sell rating to a hold rating in a report released on Wednesday morning.

Several other research firms have also recently issued reports on RNST. Keefe, Bruyette & Woods reiterated a hold rating and issued a $43.00 price objective on shares of Renasant in a report on Friday, September 29th. Zacks Investment Research cut shares of Renasant from a buy rating to a hold rating in a report on Saturday, October 21st. Finally, ValuEngine upgraded shares of Renasant from a hold rating to a buy rating in a report on Monday, September 18th. Five equities research analysts have rated the stock with a hold rating, Renasant has a consensus rating of Hold and an average target price of $44.00.

Renasant (NASDAQ RNST) traded down $0.42 during trading on Wednesday, hitting $41.88. 127,200 shares of the stock traded hands, compared to its average volume of 190,495. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2,086.25, a PE ratio of 17.85 and a beta of 1.00. Renasant has a twelve month low of $37.68 and a twelve month high of $45.31.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.08). The company had revenue of $123.43 million during the quarter, compared to the consensus estimate of $127.07 million. Renasant had a net margin of 20.44% and a return on equity of 8.15%. During the same quarter last year, the business earned $0.59 earnings per share. equities research analysts forecast that Renasant will post 2.31 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.81%. This is a boost from Renasant’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, December 14th. Renasant’s dividend payout ratio (DPR) is presently 34.70%.

In related news, Director J Niles Mcneel sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $42.39, for a total transaction of $423,900.00. Following the completion of the sale, the director now directly owns 29,921 shares in the company, valued at $1,268,351.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stuart Johnson sold 2,689 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $41.29, for a total transaction of $111,028.81. Following the sale, the executive vice president now owns 54,170 shares of the company’s stock, valued at $2,236,679.30. The disclosure for this sale can be found here. Insiders have sold 32,729 shares of company stock valued at $1,356,863 over the last 90 days. 3.86% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Advisor Group Inc. boosted its holdings in Renasant by 13.3% during the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after buying an additional 371 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Renasant by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after buying an additional 264 shares in the last quarter. Highwater Wealth Management LLC bought a new stake in Renasant during the third quarter worth approximately $213,000. Jane Street Group LLC bought a new stake in Renasant during the third quarter worth approximately $217,000. Finally, Aperio Group LLC bought a new stake in Renasant during the second quarter worth approximately $229,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

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Renasant Company Profile

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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