Renasant (NYSE:RNST) Announces Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Renasant (NYSE:RNST) issued its quarterly earnings data on Tuesday. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11, FiscalAI reports. The firm had revenue of $278.52 million during the quarter, compared to analysts’ expectations of $269.00 million. Renasant had a return on equity of 7.78% and a net margin of 12.55%.

Renasant Stock Up 2.9%

Shares of NYSE:RNST opened at $38.31 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.90. The stock has a market capitalization of $3.64 billion, a P/E ratio of 19.25 and a beta of 0.97. Renasant has a 52-week low of $26.97 and a 52-week high of $40.40. The firm has a fifty day moving average of $36.28.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RNST shares. Weiss Ratings began coverage on Renasant in a research report on Friday, October 31st. They issued a “hold (c+)” rating for the company. Hovde Group raised shares of Renasant from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Renasant presently has an average rating of “Buy”.

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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate?1-4 family mortgage; real estate?commercial mortgage; real estate?construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.