Renasant (NASDAQ:RNST) Given Market Perform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Renasant (NASDAQ:RNST) in a research note released on Wednesday, Benzinga reports. They currently have a $34.00 price target on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the company. StockNews.com raised Renasant from a sell rating to a hold rating in a report on Saturday, April 27th. Truist Financial lowered their target price 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 1st. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Renasant currently has an average rating of Hold and an average target price of $34.25.

Renasant Stock Down 1.8 %

NASDAQ:RNST opened at $30.02 on Wednesday. The firm has a 50-day simple moving average of $29.81 and a two-hundred day simple moving average of $30.78. The firm has a market cap of $1.69 billion, a P/E ratio of 12.20 and a beta of 1.03. Renasant has a fifty-two week low of $22.99 and a fifty-two week high of $34.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93.

Renasant (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $254.56 million during the quarter, compared to the consensus estimate of $159.60 million. Renasant had a net margin of 14.67% and a return on equity of 7.44%. During the same quarter last year, the firm earned $0.82 earnings per share. Analysts predict that Renasant will post 2.62 earnings per share for the current fiscal year.

Renasant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Friday, June 14th. Renasant’s dividend payout ratio (DPR) is presently 35.77%.

Institutional Investors Weigh In On Renasant

Large investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp boosted its holdings in shares of Renasant by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 49,135 shares of the financial services provider’s stock worth $1,539,000 after buying an additional 637 shares during the last quarter. ProShare Advisors LLC raised its position in Renasant by 7.4% in the first quarter. ProShare Advisors LLC now owns 11,153 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 765 shares during the period. GAMMA Investing LLC bought a new stake in shares of Renasant during the 4th quarter valued at $25,000. Park Place Capital Corp increased its stake in shares of Renasant by 0.9% in the 2nd quarter. Park Place Capital Corp now owns 88,502 shares of the financial services provider’s stock worth $2,703,000 after purchasing an additional 804 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Renasant by 0.3% in the 4th quarter. New York State Common Retirement Fund now owns 314,417 shares of the financial services provider’s stock worth $10,590,000 after purchasing an additional 829 shares during the period. 77.31% of the stock is currently owned by institutional investors.

About Renasant

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