Media coverage about Renasant Corporation (NASDAQ:RNST) has trended somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Renasant Corporation earned a daily sentiment score of 0.15 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 46.6851175985325 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Several equities research analysts recently issued reports on RNST shares. Zacks Investment Research raised shares of Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, July 4th. BidaskClub cut shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $44.00 target price on shares of Renasant Corporation in a research report on Friday, June 9th. ValuEngine raised shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $43.00 target price on shares of Renasant Corporation and gave the stock a “hold” rating in a research report on Saturday, May 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $45.33.
Shares of Renasant Corporation (RNST) remained flat at $39.52 on Friday. 270,066 shares of the company were exchanged. The stock has a market cap of $1.95 billion, a P/E ratio of 17.83 and a beta of 1.06. The stock has a 50 day moving average price of $40.20 and a 200 day moving average price of $41.37. Renasant Corporation has a one year low of $32.51 and a one year high of $45.32.
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 8.31% and a net margin of 20.31%. The firm had revenue of $113.87 million for the quarter, compared to the consensus estimate of $112.43 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, analysts forecast that Renasant Corporation will post $2.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.72 dividend on an annualized basis and a yield of 1.82%. Renasant Corporation’s dividend payout ratio is currently 32.58%.
In related news, Director Albert J. Dale III sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $42.54, for a total value of $638,100.00. Following the transaction, the director now owns 25,620 shares in the company, valued at $1,089,874.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Fred F. Sharpe acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average price of $42.33 per share, for a total transaction of $84,660.00. The disclosure for this purchase can be found here. Insiders purchased 9,023 shares of company stock worth $375,621 in the last 90 days. 3.86% of the stock is currently owned by corporate insiders.
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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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