Renasant (NASDAQ:RNST) Stock Rating Lowered by BidaskClub

Renasant (NASDAQ:RNST) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, BidAskClub reports.

Other research analysts have also recently issued research reports about the stock. SunTrust Banks assumed coverage on shares of TAKE-TWO INTERACTIVE SOFTWARE in a research note on Wednesday, June 26th. They set a “buy” rating and a $125.00 target price on the stock. Zacks Investment Research cut shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Friday, July 12th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.00.

RNST opened at $34.09 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 0.96. Renasant has a fifty-two week low of $28.02 and a fifty-two week high of $47.65. The company’s fifty day moving average price is $35.20. The stock has a market cap of $2.01 billion, a PE ratio of 11.36 and a beta of 1.20.

Renasant (NASDAQ:RNST) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Renasant had a net margin of 24.55% and a return on equity of 8.76%. The company had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $150.40 million. During the same quarter in the previous year, the company earned $0.70 EPS. Renasant’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities research analysts anticipate that Renasant will post 3.19 EPS for the current year.

In other Renasant news, EVP James W. Gray sold 2,431 shares of Renasant stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $34.84, for a total value of $84,696.04. Following the sale, the executive vice president now directly owns 58,880 shares in the company, valued at approximately $2,051,379.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.64% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Smith Shellnut Wilson LLC ADV bought a new stake in Renasant in the 1st quarter valued at $222,000. Great West Life Assurance Co. Can increased its holdings in shares of Renasant by 38.2% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,697 shares of the financial services provider’s stock worth $194,000 after buying an additional 1,850 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Renasant in the 4th quarter worth about $223,000. BW Gestao de Investimentos Ltda. increased its holdings in shares of Renasant by 50.4% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 7,445 shares of the financial services provider’s stock worth $225,000 after buying an additional 2,495 shares during the last quarter. Finally, United Services Automobile Association increased its holdings in shares of Renasant by 14.7% in the 4th quarter. United Services Automobile Association now owns 7,816 shares of the financial services provider’s stock worth $236,000 after buying an additional 999 shares during the last quarter. Institutional investors own 61.79% of the company’s stock.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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