Renasant (NASDAQ:RNST) Stock Rating Reaffirmed by Piper Sandler

Renasant (NASDAQ:RNST)‘s stock had its “neutral” rating restated by equities researchers at Piper Sandler in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $33.00 price target on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 9.93% from the company’s previous close.

Several other research firms also recently weighed in on RNST. StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $34.00 target price on shares of Renasant in a research note on Wednesday. Finally, Truist Financial dropped their price objective on Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a report on Monday, April 1st. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.25.

Renasant Trading Down 1.8 %

Shares of NASDAQ:RNST opened at $30.02 on Wednesday. Renasant has a 12-month low of $22.99 and a 12-month high of $34.85. The business’s fifty day simple moving average is $29.81 and its 200-day simple moving average is $30.78. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.69 billion, a PE ratio of 12.20 and a beta of 1.03.

Renasant (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $254.56 million during the quarter, compared to analyst estimates of $159.60 million. Renasant had a return on equity of 7.44% and a net margin of 14.67%. During the same quarter in the previous year, the business earned $0.82 EPS. As a group, equities research analysts predict that Renasant will post 2.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Renasant

Several institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its holdings in Renasant by 10.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 139,706 shares of the financial services provider’s stock worth $3,659,000 after acquiring an additional 12,741 shares during the period. Ignite Planners LLC boosted its position in Renasant by 8.0% in the fourth quarter. Ignite Planners LLC now owns 18,622 shares of the financial services provider’s stock valued at $626,000 after buying an additional 1,382 shares in the last quarter. Brookstone Capital Management acquired a new position in Renasant in the fourth quarter valued at about $211,000. Ballew Advisors Inc boosted its position in Renasant by 43.8% in the fourth quarter. Ballew Advisors Inc now owns 11,131 shares of the financial services provider’s stock valued at $343,000 after buying an additional 3,389 shares in the last quarter. Finally, Park Place Capital Corp lifted its position in shares of Renasant by 1.7% during the fourth quarter. Park Place Capital Corp now owns 113,158 shares of the financial services provider’s stock worth $3,811,000 after purchasing an additional 1,837 shares in the last quarter. Institutional investors and hedge funds 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.