Renasant (NYSE:RNST) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Renasant (NYSE:RNST) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently issued reports on RNST. Raymond James Financial cut Renasant from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $50.00 to $45.00 in a research report on Thursday, October 29th. Piper Sandler upped their target price on Renasant from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings raised Renasant from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, TD Cowen lowered their price target on Renasant from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Five analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $46.00.

Renasant Stock Up 2.0%

RNST stock opened at $40.20 on Friday. The company has a 50 day moving average of $40.18 and a two-hundred day moving average of $40.29. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 11.16 and a beta of 1.02. Renasant has a 12-month low of $33.15 and a 12-month high of $44.54. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.20.

Renasant (NYSE:RNST) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.08). Renasant had a net margin of 21.16% and a return on equity of 8.83%. The company had revenue of $272.96 million for the quarter, compared to analysts’ expectations of $282.34 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, equities analysts anticipate that Renasant will post 3.69 earnings per share for the current fiscal year.

Renasant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a $0.24 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. Renasant’s payout ratio is 26.89%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its position in Renasant by 19.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,887 shares of the company’s stock worth $73,000 after acquiring an additional 310 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Renasant by 33.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,276 shares of the company’s stock worth $54,000 after acquiring an additional 321 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Renasant by 2.2% in the third quarter. Inspire Investing LLC now owns 16,325 shares of the company’s stock valued at $635,000 after purchasing an additional 344 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Renasant by 3.5% in the second quarter. HB Wealth Management LLC now owns 10,126 shares of the company’s stock valued at $431,000 after purchasing an additional 346 shares during the last quarter. Finally, BankPlus Trust Department lifted its position in shares of Renasant by 5.8% in the third quarter. BankPlus Trust Department now owns 7,100 shares of the company’s stock worth $276,000 after purchasing an additional 388 shares in the last quarter. Institutional investors own 77.31% of the company’s stock.

Renasant Company Profile