Renasant Corporation (NASDAQ:RNST) Director Fred F. Sharpe purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was bought at an average cost of $42.33 per share, with a total value of $84,660.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Renasant Corporation (NASDAQ RNST) opened at 42.39 on Tuesday. Renasant Corporation has a 12 month low of $31.56 and a 12 month high of $45.32. The company has a 50-day moving average price of $43.19 and a 200 day moving average price of $41.44. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 19.12 and a beta of 1.06.
Renasant Corporation (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Renasant Corporation had a return on equity of 8.41% and a net margin of 20.31%. The business had revenue of $113.87 million during the quarter, compared to the consensus estimate of $112.43 million. During the same period in the prior year, the firm posted $0.59 EPS. Equities analysts predict that Renasant Corporation will post $2.34 earnings per share for the current year.
Several equities research analysts recently commented on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $44.00 price target on shares of Renasant Corporation in a report on Friday, July 14th. Zacks Investment Research cut Renasant Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BidaskClub cut Renasant Corporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Keefe, Bruyette & Woods set a $43.00 price target on Renasant Corporation and gave the company a “hold” rating in a report on Saturday, May 27th. Finally, ValuEngine raised Renasant Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.50.
A number of hedge funds have recently made changes to their positions in RNST. Russell Investments Group Ltd. acquired a new stake in shares of Renasant Corporation during the fourth quarter worth $571,000. New York State Teachers Retirement System purchased a new position in Renasant Corporation during the fourth quarter worth $152,000. Guggenheim Capital LLC boosted its position in Renasant Corporation by 94.4% in the fourth quarter. Guggenheim Capital LLC now owns 28,769 shares of the financial services provider’s stock worth $1,214,000 after buying an additional 13,971 shares during the last quarter. Norges Bank purchased a new position in Renasant Corporation during the fourth quarter worth $18,172,000. Finally, RMB Capital Management LLC purchased a new position in Renasant Corporation during the fourth quarter worth $772,000. 66.78% of the stock is owned by hedge funds and other institutional investors.
Renasant Corporation 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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