Renasant Co. (NASDAQ:RNST) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Renasant Co. (NASDAQ:RNST) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $42.83.

RNST has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $46.00 price objective (up previously from $45.00) on shares of Renasant in a research report on Thursday, January 30th. Hovde Group lowered Renasant from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. StockNews.com downgraded Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Piper Sandler lifted their target price on Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Raymond James reaffirmed an “outperform” rating and set a $44.00 target price (up previously from $40.00) on shares of Renasant in a research note on Thursday, January 30th.

Renasant Price Performance

RNST stock opened at $36.61 on Monday. The company has a market capitalization of $2.33 billion, a PE ratio of 11.19 and a beta of 1.03. The stock’s 50 day moving average is $36.75 and its two-hundred day moving average is $35.19. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. Renasant has a 52-week low of $27.98 and a 52-week high of $39.63.

Renasant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Monday, March 17th. Renasant’s dividend payout ratio is presently 26.91%.

Institutional Trading of Renasant

A number of hedge funds and other institutional investors have recently modified their holdings of RNST. Covestor Ltd raised its position in shares of Renasant by 73.7% during the fourth quarter. Covestor Ltd now owns 1,838 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 780 shares during the period. KBC Group NV raised its position in shares of Renasant by 32.0% during the third quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 596 shares during the period. Creative Planning acquired a new stake in shares of Renasant during the third quarter worth $207,000. ZWJ Investment Counsel Inc. acquired a new stake in shares of Renasant during the fourth quarter worth $208,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Renasant during the fourth quarter worth $209,000. Institutional investors own 77.31% of the company’s stock.

Renasant Company Profile

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.