Renasant (RNST) Stock Rating Upgraded by BidaskClub

Renasant (NASDAQ:RNST) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday, May 8th, BidAskClub reports.

A number of other research firms have also weighed in on RNST. TheStreet upgraded Renasant from a “c+” rating to a “b-” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded Renasant from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Stephens set a $36.00 price target on Renasant and gave the company a “hold” rating in a research note on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Renasant has a consensus rating of “Hold” and an average target price of $37.00.

RNST stock traded down $0.68 during midday trading on Wednesday, hitting $33.80. The company’s stock had a trading volume of 125,182 shares, compared to its average volume of 192,206. Renasant has a 12 month low of $28.02 and a 12 month high of $49.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 11.27 and a beta of 1.23.

Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $150.50 million during the quarter, compared to the consensus estimate of $150.40 million. Renasant had a return on equity of 8.76% and a net margin of 24.55%. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. Sell-side analysts anticipate that Renasant will post 3.19 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of RNST. Strs Ohio boosted its holdings in Renasant by 200.0% in the fourth quarter. Strs Ohio now owns 900 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 600 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Renasant by 213.7% during the third quarter. Federated Investors Inc. PA now owns 734 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 500 shares during the period. Advisor Group Inc. lifted its holdings in shares of Renasant by 115.0% during the first quarter. Advisor Group Inc. now owns 1,118 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 598 shares during the period. Trustcore Financial Services LLC lifted its holdings in shares of Renasant by 213.1% during the fourth quarter. Trustcore Financial Services LLC now owns 2,145 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 1,460 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Renasant by 3,487.3% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,973 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 1,918 shares during the period. 61.82% of the stock is owned by institutional investors and hedge funds.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

Featured Article: What is required to own or exchange cryptocurrency?

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