Renasant (NYSE:RNST – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.
A number of other equities research analysts also recently commented on RNST. Weiss Ratings upgraded Renasant from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Raymond James Financial cut Renasant from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $50.00 to $45.00 in a report on Thursday, October 29th. Piper Sandler raised their price objective on Renasant from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, TD Cowen reduced their price objective on shares of Renasant from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Five analysts have rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $46.00.
Check Out Our Latest Stock Analysis on RNST
Renasant Stock Performance
Renasant stock opened at $39.43 on Friday. The firm has a 50 day simple moving average of $40.20 and a 200-day simple moving average of $40.28. Renasant has a 1-year low of $33.15 and a 1-year high of $44.54. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.91 and a quick ratio of 0.90. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 11.04 and a beta of 1.02.
Renasant (NYSE:RNST – Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). The firm had revenue of $272.96 million for the quarter, compared to analyst estimates of $282.34 million. Renasant had a return on equity of 8.83% and a net margin of 21.16%. During the same quarter in the prior year, the business earned $0.77 EPS. On average, analysts expect that Renasant will post 3.69 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in RNST. BlackRock Inc. acquired a new position in Renasant in the second quarter valued at approximately $566,683,000. Wellington Management Group LLP increased its stake in Renasant by 33.6% in the second quarter. Wellington Management Group LLP now owns 5,779,920 shares of the company’s stock valued at $245,878,000 after purchasing an additional 1,453,908 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Renasant by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,328,672 shares of the company’s stock worth $192,521,000 after purchasing an additional 61,674 shares in the last quarter. Jennison Associates LLC raised its holdings in Renasant by 9.6% during the first quarter. Jennison Associates LLC now owns 1,399,604 shares of the company’s stock worth $50,568,000 after purchasing an additional 123,146 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Renasant by 178.5% during the first quarter. Principal Financial Group Inc. now owns 1,261,160 shares of the company’s stock worth $45,566,000 after purchasing an additional 808,316 shares in the last quarter. 77.31% of the stock is currently owned by institutional investors and hedge funds.
About Renasant
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