Piper Sandler Reaffirms Neutral Rating on Renasant (RNST)

Piper Sandler maintains neutral rating on stock Renasant (NASDAQ:RNST – Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $33.00 price target on shares of the financial services provider.

Several other brokerages have also issued reports on RNST. Truist Financial lowered their price target on shares of Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, April 1. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $34.00 price target on shares of Renasant in a report on Wednesday. Finally, StockNews.com raised Renasant from a “sell” to a “hold” rating in a research report on Saturday, April 27. Five investment analysts have rated the stock as a “hold.” According to data from MarketBeat, the stock has a consensus rating of “hold” and a consensus price target of $34.25.

See our latest analysis of Renasant shares

Results of the Renasant campaign

Renasant shares opened on Wednesday at $30.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92. The company has a 50-day simple moving average of $29.81 and a 200-day simple moving average of $30.78. Renasant has a 52-week low of $22.99 and a 52-week high of $34.85. The company has a market capitalization of $1.69 billion, a P/E ratio of 12.20 and a beta of 1.03.

Renasant (NASDAQ:RNST – Get Free Report) last posted financial results on Tuesday, April 23. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. Renasant had a return on equity of 7.44% and a net margin of 14.67%. The company had revenue of $254.56 million for the quarter, compared to analysts’ expectations of $159.60 million. During the same period last year, the company earned $0.82 per share. Sell-side analysts are predicting that Renasant will post earnings of $2.62 per share for the current fiscal year.

Renasant dividend announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28. Shareholders of record on Friday, June 14 received a dividend of $0.22. This represents an annual dividend of $0.88 and a dividend yield of 2.93%. The ex-dividend date was Friday, June 14. Renasant’s Dividend Payout Ratio (DPR) is 35.77%.

Institutional inflows and outflows

Several hedge funds and other institutional investors have recently added to or reduced their holdings in RNST. GAMMA Investing LLC acquired a new stake in shares of Renasant in the fourth quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Renasant in the fourth quarter worth approximately $37,000. TFO Wealth Partners LLC increased its holdings in shares of Renasant by 13,710.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,371 shares during the period. Criterion Capital Advisors LLC acquired a new stake in shares of Renasant in the fourth quarter worth $113,000. Finally, Cravens & Co Advisors LLC acquired a new stake in shares of Renasant in the fourth quarter valued at $205,000. 77.31% of the shares are currently owned by institutional investors.

Renasant Company Profile

(Download the free report)

Renasant Corporation operates as the bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary and insurance services to retail and commercial clients. The company operates through its Community Banks, Insurance and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based loans and equipment leasing factoring services, as well as safe deposit and overnight deposits.

Featured Articles

Get daily news and reviews for Renasant – Enter your email address below to receive a concise summary of the latest news and analyst ratings for Renasant and related companies in MarketBeat.com’s FREE daily newsletter.