Renasant Co. (NASDAQ:RNST) Receives Average Recommendation of “Moderate Buy” from Analysts

Renasant Co. (NASDAQ:RNST) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $42.83.

A number of brokerages have commented on RNST. Stephens boosted their target price on Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Raymond James restated an “outperform” rating and issued a $44.00 target price (up previously from $40.00) on shares of Renasant in a research note on Thursday, January 30th. Piper Sandler boosted their target price on Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Hovde Group downgraded Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Finally, StockNews.com downgraded Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st.

Renasant Stock Performance

Shares of NASDAQ RNST opened at $36.61 on Monday. The business’s 50-day moving average price is $36.75 and its two-hundred day moving average price is $35.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. Renasant has a one year low of $27.98 and a one year high of $39.63. The company has a market capitalization of $2.33 billion, a P/E ratio of 11.19 and a beta of 1.03.

Renasant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.40%. Renasant’s dividend payout ratio (DPR) is presently 26.91%.

Institutional Trading of Renasant

Several large investors have recently made changes to their positions in RNST. Creative Planning acquired a new position in shares of Renasant during the 3rd quarter worth about $207,000. Louisiana State Employees Retirement System lifted its position in shares of Renasant by 8.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 30,700 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 2,400 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Renasant by 9.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 36,270 shares of the financial services provider’s stock valued at $1,178,000 after acquiring an additional 3,193 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in Renasant by 11.7% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 8,159 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 856 shares during the last quarter. Finally, Amalgamated Bank grew its position in Renasant by 7.2% during the 3rd quarter. Amalgamated Bank now owns 18,414 shares of the financial services provider’s stock worth $598,000 after acquiring an additional 1,240 shares during the last quarter. Institutional investors own 77.31% of the company’s stock.

Renasant Company Profile

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.