Analysts expect Renasant Corporation (NASDAQ:RNST) to report earnings of $0.61 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Renasant’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.61. Renasant reported earnings per share of $0.59 in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The company is scheduled to report its next quarterly earnings report on Tuesday, January 16th.
On average, analysts expect that Renasant will report full-year earnings of $2.30 per share for the current fiscal year, with EPS estimates ranging from $2.24 to $2.42. For the next financial year, analysts forecast that the firm will post earnings of $2.73 per share, with EPS estimates ranging from $2.60 to $2.99. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Renasant.
Renasant (NASDAQ:RNST) last released its earnings results on Tuesday, October 17th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.08). Renasant had a net margin of 20.44% and a return on equity of 8.15%. The firm had revenue of $123.43 million during the quarter, compared to the consensus estimate of $127.07 million. During the same period in the prior year, the business earned $0.59 earnings per share.
Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $43.00 price target on shares of Renasant in a report on Friday, September 29th. Zacks Investment Research lowered shares of Renasant from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. Finally, ValuEngine raised shares of Renasant from a “hold” rating to a “buy” rating in a report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Renasant presently has an average rating of “Hold” and an average price target of $44.00.
In related news, Director J Niles Mcneel sold 10,000 shares of Renasant stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $42.39, for a total transaction of $423,900.00. Following the sale, the director now directly owns 29,921 shares in the company, valued at approximately $1,268,351.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael D. Shmerling bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average price of $39.40 per share, for a total transaction of $39,400.00. Following the completion of the transaction, the director now owns 157,347 shares in the company, valued at $6,199,471.80. The disclosure for this purchase can be found here. Insiders have sold a total of 25,729 shares of company stock worth $1,067,623 over the last ninety days. 3.86% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Advisor Group Inc. boosted its position in Renasant by 13.3% during the 2nd quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after buying an additional 371 shares during the period. Ameritas Investment Partners Inc. boosted its position in Renasant by 7.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after buying an additional 264 shares during the period. Highwater Wealth Management LLC acquired a new stake in Renasant during the 3rd quarter worth approximately $213,000. Jane Street Group LLC acquired a new stake in Renasant during the 3rd quarter worth approximately $217,000. Finally, Aperio Group LLC acquired a new stake in Renasant during the 2nd quarter worth approximately $229,000. Institutional investors and hedge funds own 65.33% of the company’s stock.
Shares of Renasant (NASDAQ RNST) traded down $0.52 during trading on Tuesday, hitting $41.41. 101,581 shares of the company traded hands, compared to its average volume of 189,317. The company has a market cap of $2,052.71, a price-to-earnings ratio of 17.56 and a beta of 1.00. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.14. Renasant has a 12 month low of $37.68 and a 12 month high of $45.31.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from Renasant’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.84%. Renasant’s payout ratio is 32.88%.
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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