StockNews.com Lowers Renasant (NASDAQ:RNST) to Sell

Renasant (NASDAQ:RNST) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Several other analysts also recently weighed in on RNST. Stephens lifted their target price on shares of Renasant from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Truist Financial dropped their target price on shares of Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.00.

Renasant Trading Up 3.4 %

Shares of RNST stock traded up $0.99 during trading on Friday, hitting $29.76. 220,322 shares of the stock traded hands, compared to its average volume of 238,683. The firm has a market capitalization of $1.67 billion, a P/E ratio of 11.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.91 and a quick ratio of 0.90. The firm’s fifty day moving average price is $30.47 and its 200-day moving average price is $29.73. Renasant has a 52-week low of $22.99 and a 52-week high of $34.85.

Renasant (NASDAQ:RNST) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.64 by $0.12. Renasant had a net margin of 15.94% and a return on equity of 7.98%. The firm had revenue of $230.79 million for the quarter, compared to analyst estimates of $160.63 million. During the same quarter in the previous year, the company earned $0.89 EPS. As a group, research analysts forecast that Renasant will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Renasant

Several institutional investors have recently modified their holdings of RNST. GAMMA Investing LLC acquired a new position in shares of Renasant in the fourth quarter worth $25,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Renasant in the fourth quarter worth $37,000. TFO Wealth Partners LLC grew its stake in shares of Renasant by 13,710.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,371 shares in the last quarter. Covestor Ltd grew its stake in shares of Renasant by 26.6% in the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 463 shares in the last quarter. Finally, Point72 Middle East FZE acquired a new position in shares of Renasant in the fourth quarter worth $74,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

About Renasant

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.